Sunday, February 14, 2010
Another subscriber to the Van Niel mortgage proposal.
A while back, I described the Van Niel mortgage proposal (here). In today's column by John L. Smith (here), he's endorsing that proposal. It's not a groundswell for the proposal (yet), but perhaps, someday, we'll see more people recognizing that modifying the principal amounts and giving the banks a share in any short-term profits on resale is the right way to go.