The Wall Street Journal posted a very compelling article on a new program currently in review. It would essentially allow homeowners to be forgiven for some of their mortgage debt. If you currently owe more than your home is worth, Fannie and Freddie are in talks to come up with a plan to offer assistance. The Obama administration has pushed for similar programs and would likely back this decision.
READ FULL STORY via 2012 MORTGAGE DEBT RELIEF PROGRAM MAY BE ON THE WAY; WOULD YOU QUALIFY?.