(Reuters) - A controversial weapon could be deployed soon in the U.S. fight against the housing crisis as states and top banks near a deal in their dispute over mortgage abuses -- cutting the mortgage debt owed by homeowners.
Senh: Principal reduction and refinancing for underwater mortgages would be a two steps in the right direction. The only problem what happens to homeowners who have already done loan mods? Would they still qualify for principal reduction and/or refinance? It also sucks that certain programs are only available from one bank, but not another.
