PRINCIPLE WRITE DOWN ON MORTGAGE'S TO CURRENT MARKET VALUE

Almost five years since the beginning of the real estate market meltdown and many people have mortgages that they qualified for when they purchased or refinanced the home BEFORE the economy meltdown. Because of the economy many salaried people don’t work for the same employer, self-employed people lost their businesses, now earning less than half of what they were making when they QUALIFIED for the loan and are desperately doing everything they can to hold on to it, yes they are victims of the faulty economy. Home owners selling all items of value, depleting their savings accounts just to make the mortgage payment hoping the economy will turn around. Before forcing short sales, The Banks need to write down the principle to current values enabling struggling homeowners keep their homes