Mortgage Principal Reduction?

[Jim in CT]

Originally Posted by Redsoxticket

The principal reduction is to prevent homes going to foreclosure and flooding the market with low priced homes. The decreased appraised value of your home in the same area of these foreclosed homes far out weight the tax that you would pay for this principal reduction.
So then you can piss and moan that your house is worth nothing.
The people that take advantage of this for no cause are scum or opportunity seekers.
Posted from my iPhone/Mobile device

"The principal reduction is to prevent homes going to foreclosure and flooding the market with low priced homes."

I don't disagree with that. But it's wrong. Why can't I qualify for a principal reduction? That would help me as well...

"The decreased appraised value of your home in the same area of these foreclosed homes far out weight the tax that you would pay for this principal reduction."

Absolutely, 100% wrong. Completely false. If I'm not selling my home, then it does not impact me at all if my home decreases in value temporarily. That does not impact me one cent. Not one cent. So don't feed me some BS about how this actually helps my bottom line. I don't need liberals looking out for my net worth. Please. If liberals want to help my bottom line, you can start by keeping your hands out of my pockets for five seconds.

"So then you can piss and moan that your house is worth nothing"

If my house is suddenly worth nothing, I won't ask you to bail me out. That's my problem to deal with, not yours. That's the difference between liberals and conservatives.