Wow, I sure hope those new FHA loans/home valuations are publicly disclosed. Otherwise you have a bunch of people getting principal forgiveness, then selling their homes for more than the new “adjusted” loan amount.
Basically, I see LOTS of people getting new loans. Then selling their “new no longer underwater” home for substantially more than their new loan amount, getting their free taxpayer money, then using those proceeds for a huge down payment on another home.
Essentially, the taxpayer subsidizing the new home purchase for people that were financially imprudent in the first place…
