Forgiving Principal to Help Housing Market

Forgiving Principal to Help Housing Market (via http://mortgagespectator.com)

Policy makers are wrestling with a dilemma about the overhang of mortgage debt from the housing bust: to forgive or not to forgive? With prices down by one-third from their 2006 peak, more than 11 million homeowners are underwater, or owe more than their homes are worth. That is about 24% of all homeowners…