Taxpayers bailed out Freddie and Fannie for more than $187,000,000,000.
Freddie Mac and Fannie Mae guarantee about 60 percent of mortgages in the United States.
Meanwhile, taxpayers are living in the homes that are guaranteed ("owned") by Freddie and Fannie.
Why not allow Freddie and Fannie to repay their bailout debt in the form of principal reduction for primary residences?
The paperwork enforcing these mortgages is shoddy, if it exists at all. We had a National Mortgage Settlement in '12 that intended to end the robo-signing debacle. But some big banks, like Wells Fargo, are still settling disputes. And with recent billion-dollar FHFA settlements (like those with JPMorgan Chase and Bank of America) there is no mention of aiding homeowners.
They got their bailout. Now it's our turn