The One Housing Solution Left - Mass Mortgage Refinancing - NYTimes.com
Jared Sperli stashed this in politics
With principal writedown no longer an option, the government needs to find a new way to facilitate mass mortgage refinancings. With rates at record lows, refinancing would allow homeowners to significantly reduce their monthly payments, freeing up money to spend on other things. A mass refinancing program would work like a potent tax cut.