Relevant:
- Thousands of borrowers to get mortgage payments reduced
- Strategic Default: Inconceivable Assumptions Suddenly Conceivable
- U.S. may require more mortgage insurance Obama, FHFA outline possible help for underwater borrowers
- Many underwater homeowners are deliberately walking away from mortgages
- Wells Fargo sends refunds to some FHA mortgage customers
2012-08-10 — bloomberg.com
The FHFA said it would only make financial sense to write down loans if the debt reductions convinced most borrowers who hadn't made mortgage payments in more than a year to suddenly start paying again. The agency made it clear it considered that highly unlikely and suggested that the best solution was a "graceful exit" from homeownership for those borrowers.
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