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The principal reduction programs may not begin until the fall.
Nobody is arguing for across-the-board principal reduction.
Conservatives, on the other hand, hate principal reduction.
The average in a principal reduction is about $117,000.
"We do believe there should be principal reduction at Fannie Mae and Freddie Mac," he added.
He even shut down a test program in principal reduction before it got started.
In fact, efforts to facilitate principal reduction at the federal level have repeatedly been thwarted.
Principal reduction now!
For most borrowers, though, principal reduction remains out of reach.
But he couldn't make a principal reduction happen.
If we can't extend the exemption, principal reduction is dead.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com