[zimmy]

I can't find specific details, but it does look like the new law would encourage delinquincy. If that is the case, it is insane. Have to see real info first, but...

Update: what I just read on LA Times is not the law tied to HARP that I had recently discussed with some guys in the financial/mortgage industry. To me, HARP makes sense because principal gets reduced as more of the payment goes toward principal. Just dropping the principal for delinquent payers is a harder sell, although anyone who wants to buy or sell a home is held hostage by the situation.