IndyMac, a bank bailed out with our tax dollars, and other banks and mortgage holding companies deliberately "drag their feet" when considering requests by their customers to modify their mortgage. They repeatedly request the SAME documents and once the 60 Days is over, they deny the request claiming the customer never proffered the requested documents.
The President should form a Commission to investigate these actions and prosecute those responsible.
Many honest, hardworking families are "under water" with their mortgages and have no option to refinance based on what their home is actually worth. Thus, they can never sell and only hope that they can stay in their home once balloon payments, etc. are due.