I do feel that the less educated folks who fell into this category should be helped.
However, I can’t believe that this will bail out everyone. The lenders can refinance, reorganize, whatever they want. This may help the situation a little, so the bust is less severe. They will never be able to make someone who makes 30k able to pay for a 460k loan. This just happened to a neighbor of mine and they can’t give the house away for 409k /1800 square feet………ttfn
