SD Realtor, there nothing the government can do at this point.
If people can’t afford a house, giving them forbearance is not going to help. It just delays in inevitable.
The government will not write-off principal without homeowners giving up present or future equity. You’d have to be an idiot to agree. Better to walk away and be done with it.
If the gov’t interferes and it becomes common knowledge that some homeowners are getting breaks, then everyone will demand a share of the pie. People will stop making mortgage payments to qualify for bailout and that will cause things to get even worse.
