@Dominiator Sad isn't it? The ones getting help are the irresponsible ones who has not paid their mortgage. I also lost my job during the recession and now currently working with nearly 40 percent wage cut but I still pay my mortgage on time. Why not help the responsible ones who continually pay their mortgage instead of the ones who are defaulting.

1 of the program goals is to attract more home builders??? We have WAY too many houses already. We were way overbuild in the boom and these idiots want to attract home builders to build more homes! I have a better idea. Leave things alone! Let the market correct itself and we will be fine.

Another crap program that somebody comes up with and the money just disappears or sits there. What happened to the millions that the state had before? You would call them and never get an answer. The whole thing is BS because the banks want the houses. They will never let you get these loans especially if it devalues the house. How do they do these short sales but never let the people in the house get a break. I haven't had a raise in years and we took pay cuts to keep the business going. I got an attorney and somehow or another I got a loan mod. The attorney didn't even know about it until I called him, he was amazed!! Like said before I'm making the payments but I'll never get ahead on it unless prices go up again. With our current administration that will never happen!!!!! Nothing will happen with this money!

We keep hearing about this but nothing ever happens. What about the MAJRORITY of Las Vegas homeowners we are current with payments BUT owe double or tripple of the homes value? Thats the issue here, a house is supposed to be an investment and we are really just renting our house due to principle vs value..... so thanks for nothing

jbkayaker12... My mortgage is backed by Fannie Mae and I have been denied all programs! Working Americans just do not qualify even when we take a 30% cut in pay to keep our jobs and fall behind on our mortgage's.

Let me edit my post below, my loan is guaranteed by Ginnie Mae, a government agency. I'm not eligible for a principal reduction unlike those whose mortgage loans that are backed by Freddie/Fannie.

How about responsible homeowners who continually pay their mortgage. NO HELP!!! I cannot get help reducing my principal because it is owned by Ginnie Mae, only those under Freddie Mac or Fannie Mae can get principal reduction.

when I first starting reading the article I thought it sounded great. Then I realized it is just another one of those BS programs that only help a select few that made no effort to do the right thing while people like myself who have try to do everything right are left out in the cold!