to modify the bankruptcy laws for underwater mortgages to fair market value since the banks have not fully comply with.

The major banks have not been fully comply for mortgages that are not covered under any federal home loan program. If the mortgage is underwater and the mortgage is the primary residence and the owners can present to the federal appointed judge that attempts to work with the bank has failed the bankruptcy judge can adjust the mortgage to fair market value based on independent appraiser. Mortgages covered under federal government programs have more protect than former subprime mortgages owned by investors or banks. The owner has to show that they still want to reside in the home and has attempt to save the reside to the maximum extend possible of the resident.