Richard Durbin actually said...

Our economy, I am afraid, will not make a full recovery until we address the $700 billion worth of underwater mortgages held by more than 11...

Reducing principle often makes sense for both the homeowner and the lender, not to mention the communities which are being littered with for...

we think there is a strong case in some circumstances to add principle reduction as part of their strategies to help maximize return to the ...

It is the stated policy of the administration that principle reduction is one of the key elements in reducing foreclosures.