http://www.mortgagenewsdaily.com/592008_Foreclosure_Assistance.aspThe latest bill would allow lenders to reduce their exposure to foreclosures if they agree to cut the outstanding balance of an existing loan, thus allowing homeowners to refinance into a new loan that would be FHA insured . The reductions taken by lendersenCommunityServer 2008 SP2 (Build: 31106.96)http://www.mortgagenewsdaily.com/592008_Foreclosure_Assistance.asp#7750Sat, 10 May 2008 11:00:00 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:7750Roger HermannSame old story. Privatize the profit of the lenders. When they get in trouble then stick it to the taxpayer to bail them out. Who really believes that this money will be used properly. Just thinking about it for a couple of minute shows so many possibilities for fraud. The government will then set up an entity that will oversee everything i.e. that the money goes to the right politically connected people.<div style="clear:both;"></div><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=7750" width="1" height="1">http://www.mortgagenewsdaily.com/592008_Foreclosure_Assistance.asp#7749Fri, 09 May 2008 11:00:00 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:7749IlaniCould there finally be REAL HELP being offered? If this means accrued deferred interest would be expunged from a mortgage, then yes, this action with a change to a lower rate on a modified mortgage will provide the relief many homeowners are seeking. <div style="clear:both;"></div><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=7749" width="1" height="1">