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"Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. "

This is not news. Obama already tried this. It was under a special government modification program for FHA FM/FM initiated loans only.

It also needs to be discussed the part about "Americans who owe more than what their homes are worth."

These are the original subprimers. They reach gov. red tape and it has been reported they are failing to return all the proper documents/paperwork required.

There are people in dutch with their homes that can't sell their homes and housing values have gone way down.Will this supposed new Obama save all; bail 'them' out?

Obama has tried all of this already. Even allowing those in dutch to PAY RENT but no one returns paperwork. It is all one big cluster.... mess.

Obama and Barney Frank need to own up to them causing all of this with their GIVE EVERYBODY A HOME progressive Peter Pan Clinton democrat ideals and then fix what they screwed up.They know how to fix what they created. They have to fess up first...which will NEVER happen.

RESPONSIBILITY is the key word.