it’s optional for the lenders to do this. this plan has no teeth.
the determination of whether or not a homeowner can afford to continue payments on a frozen basis will require documentation, ie., w2. how many “homeowners” bought using a w2?
the people who can afford it are not the people that need help, obviously. if anything, this plan is to get ignorant investors back into the financial stocks to prolong the life of the banks, allow hedgies to buy shorts, etc.
