Thursday, March 05, 2009

A hat tip to John D. Geanakoplos and Susan P. Koniak

This morning's New York Times op-ed by John Geanakoplos and Susan Koniak (here), Matter of Principal, is right on point: without reducing the principal of underwater mortgages, foreclosures are more likely to be merely delayed rather than actually avoided. For my favorite mortgage proposal to date, see here.

1 comment:

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