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Originally Posted by designer300z  I haven't heard of bank dropping the principle due and letting people keep the home, but your concept is accurate. |
The possibility is there:
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One of the suggestions Bernanke made was for mortgage and other financial companies to reduce the amount of the loan to provide relief to a struggling owner. "Principal reductions that restore some equity for the homeowner may be a relatively more effective means of avoiding delinquency and foreclosure," Bernanke said.
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Bernanke Calls for More Mortgage Relief: Financial News - Yahoo! Finance