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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (8102)	2/4/2012 2:03:04 PM
From: Bearcatbob	1 Recommendation Read Replies (2) \| Respond to of 85487

My general thoughts are that I support helping people refi at reduced interest rates. The concept of principal forgiveness thought gives me a lot of trouble. Basically people who made a down payment and have now lost their down payment value are simply out the money as a reward for their good behavior. Good behavior is screwed and bad behavior is rewarded. This is absolute nonsense to me. If nothing else, any principal forgiveness should be income for tax purposes - or at least - fully recoverable from the recipient if the home is later sold above the new valuation. Over the years I have had stocks go up and down. When they go down - guess what - there is no forgiveness - I simply lose the money. There is little difference in my mind between an investment in a house or anything else. Bob