In this letter to key banks Treasury Secty Tim Geitner is urging key banks to increase staff, appoint liaisons, streamline the process and increase the number of loan modifications.
JMO:
It' s simple. Someone in Washington finally realized that the problem is not being solved by helping everyone EXCEPT the homeowner. Nearly a trillion dollars given to banks and insurance companies and the credit crunch is still worse than ever. Gov't acquisition of Fannie/Freddie, and too many "foreclosure moratoriums" to keep count and the housing crisis is getting worse. People who can afford to pay their mortgages are making the financial decision to "walk away" .... I heard that the that the Discovery Channel is in production on an episode call "When Good Homeowners Go Bad!".
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