Freddie Mac/Fannie Mae own approximately 60% of all mortgages in the US. Many of these properties are 'underwater' in value, thus curtailing re-finance opportunities.
Allowing and encouraging principle reductions on these properties, all of which were subject to the horrors of the 2008 mortgage meltdown, will stimulate the economy in a huge way!
This is really a common sense approach to help make amends for the economic disaster brought on by all the major players in the industry.
How about stepping up to the plate and make this happen?