[Teamhockey]

I agree withthe principle reduction theory. I have read for hours blogs, etc. re: this however and don't see that being done by lenders. When they consider they will be losing the money anyway to foreclosure why not keep people in their homes and work out some reasonable agreement? These lenders need to consider each situation and how much they will lose on a foreclosure. It is an incredibly expensive procedure from the lenders standpoint. I think one problem is that they have talking heads who don't know how to think doing the work. The people I have spoken with at Countrywide have less knowledge about loans than my 11 year old. I was in the mortage business for 32 years and find this mass stupidity on the part of Countrywide disgusting. What is B of A doing with all the bail out money they have received? Put it to good use. Let's see some accountablity of funds. Perhaps it could be used to do these principle reductions.