Upon Further Review

In a previous blog, I reproached the government for their cavalier attitude toward the "mortgage meltdown". At that time, it was my belief the "government" should force those fraudulent money lenders to restructure failing mortgages to a level of 4% to 5%. However, since that time, I have had a greater opportunity to more closely study and research this mounting problem. As I speak, the number of foreclosures increases. How do we stem this economic bleeding"? My research has led me to understand the need for a fundamental change in the principle balance of these trouble mortgages that are on the brink of failure. Since the real estate market in so many geographic locations has declined, the associated assessed value of those homes has also declined. Certainly then, it is prudent for the lenders to renegotiate that principle balance to better reflect a true market barometer and thus create a more indicative market. The crux of this issue is simply a disparity between desired or perceived and realistic property values. By devaluing property assessments, the true market can once again be reflected and mortgages may also become parallel with those assessments. The problem however, remains that lenders appear to be reticent for a renegotiation of any mortgage contracts without some additional inducements by the "government". And so, Obama has seen fit to offer such "tidbits of cheese" to the rats through recompense fees for these contract re negotiations. In some areas, as much as 2 or 3 thousand dollars fee per mortgage modification has been experienced by those desperate clients. Personally, I think it appalling that mortgage lenders have to be bribed by our government in order to perform the moral actions they have already been paid to accomplish.
Thus, a simple solution to a complex problem has been proffered and it is my understanding perhaps this solution may creep into our desperate economic lives after all.