There have been so many bailouts for the rich people. I heard the latest is a possibility of mortgages being modified for homeowners. I think the money saved by the modified mortgage should be considered income and taxed accordingly. Those that get foreclosed have to claim the canceled debt as income. I personally don't think a person should be rewarded for a poor financial decision. However, the home market has taken a dive and this may be the only way to keep homes out of foreclosure. I don't think anybody wants an empty house next to them.
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