Delinquent Mortgage Workouts

[James Harkness]

I wonder what your opinions of allowing delinquent borrowers to change the terms of their mortgages are? To me, there is something fundamentally wrong with essentially rewarding lousy borrowers by extending their terms, lowering their interest rates, or sometimes even forgiving a portion of the debt completely. Especially when the good borrowers, who have always been on time with their payments are stuck in the original terms of their loans. What are your thoughts on how this will effect things in the future from an economic point of view?