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Forgiving some of this debt makes it less likely that they will throw away the keys.The new plan aims to help in four main ways.
Any effort to help homeowners by forgiving some of their loans is said to create a moral hazard, rendering it politically toxic.
Greece's debts will be towering even after a buyback, and the official sector is likely to be forced into forgiving some of its loans eventually.
The brevity of solo missions helps, forgiving some of the repetition, and a robust, friendly player community makes exploring the world a joy.
Or will the government force institutions that lent money to sick banks in better times — their creditors — to take a hit by forgiving some of the loans?
Mr. Rogoff suggests a mix of forgiving some of the housing related debt (perhaps in exchange for homeowners' giving up gains from future appreciation in their home values) and pursuing a mild inflationary policy.
Similar(48)
Geanakoplos argued that mortgage service companies need to start forgiving some portions of loan principal before 8 million more people are thrown out of their homes, and "that's when the riots are going to start".
The federal government could encourage more doctors to go into neglected subspecialties by forgiving some portion of their debts.
The company, which holds $8.3 billion in private student loans, is considering lowering interest rates and forgiving some debt of borrowers in dire straits.
WASHINGTON — The overseer of Fannie Mae and Freddie Mac on Tuesday opened the door to forgiving some mortgage debt of homeowners who owe more than their houses are worth, as the Obama administration has recently urged.
Other euro zone governments have discussed forgiving some or part of the nearly $68 billion in loans they made to Greece, a step that many economists regard as inevitable if Greece is ever to emerge from its fiscal straitjacket.
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CEO of Professional Science Editing for Scientists @ prosciediting.com