With growing pressure on Fannie Mae and Freddie Mac to reduce the principal balance on underwater mortgages across the United States, I's impreitive that we all understand the scope of the damage. The public perception endures that so many American's bought homes that they could not afford, that a large scale reduction in mortgage principal would amount to a rewarding of those who knowingly bit off more than they could chew. This is simply not the case.
Thursday, September 1, 2016
