Mudcat Café message #2566093

The Mudcat Café ^TM
Thread #118625 Message #2566093
Posted By: KB in Iowa
13-Feb-09 - 01:03 PM
Thread Name: BS: Reduce All Mortgages' Principal, TIME
Subject: RE: BS: Reduce All Mortgages' Principal, TIME

Here seems to be the main idea.

"Reduce the outstanding principal on every single mortgage to, say, 70% of the original value."

What if you owe less than 70% of the original value on your mortgage?

Maybe I am reading this wrong but it sounds to me like if your mortgage was for $100,000 and your principal is now down to $69,999 you would not benefit.