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debt forgiveness: Wall Street Banks alerting clients -- Obama may forgive homeowners debt - 08/05/10 03:34 PM
Will Obama bailout Upside Down Home Owners  with an August surprise?
2 things to consider: 
1.  The VIX index which is the CBOE market volitility index is pricing in a big stock market move in the next six weeks;
and
2.http://blogs.reuters.com/james-pethokoukis/2010/08/05/an-august-surprise-from-obama/
Reuters says Washington is buzzing with the Rumor that Obama is going to order Fannie and Freddie to forgive some of the debt of Upside Down americans. 
"Wall Street banks are alerting their clients privately to this possibility. Here is what some are cautiously saying publicly. This from Goldman Sachs:
GSE policies are one of a dwindling number of policy … (6 comments)

debt forgiveness: Loan Modification - debt forgiveness - Deeds in Lieu of Foreclosure - 10/05/08 02:59 PM
From the October 3 California Association of Realtors letter to membership:
The new economic stability act (bailout):
 
"Helps American families keep their homes by requiring the Treasury Dept. and any federal agency that owns or controls troubled mortgages to modify those mortgages wherever possible; this may include reducing the principal or interest rate; and extends till the end of 2012 the exclusion from federal income tax of mortgage debt forgiveness. Addresses the credit crisis by allowing financial institutions to immediately sell $250 billion in troubled assets to the U.S. Treasury Department under the newly created Troubled Assets Relief Program (TARP). … (1 comments)

 
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