Why not just reduce borrowers' debt? February 26,2009

Submitted by lusk-admin on Tue, 07/10/2012 - 16:56

...Richard K. Green and Christopher Thornberg debate. Today's topic: A high percentage of modified mortgages have re-defaulted, and some critics say that's because the modifications haven't been aggressive enough -- in particular, they haven't written down debt. The Obama proposal would not reduce a borrower's debt, either. Isn't that a problem?...