Mortgage Mess Breeds Unlikely Allies - WSJ.com

Jim Hagerty gives some valuable insights on the pros and cons of principal reductions in the minds of key lenders and investors.  Though the government seems to prefer extending due dates and lowering interest rates, the number of homes that are presently underwater tell us intuitively that this is an insufficient and unrealistic solution.  Political and fairness issues?  Sure, but do we want to help homeowners and the real estate economy or don't we? - David