These staggering numbers will panic anybody, homeowners, investors, politicians, and economists similar.

Neither politicians nor banks care one whit that an investor (1) made a bad investment that doesn't cash flow and/or (2) lost value in his investment property.

Interest rate modifications are a phony product being pitched for politicians to be able to claim that they are "sticking up for the little guy".

Careers of incumbent politicians?

Politician, many homeowners will not choose to pay for a home that is worth less than 40% of what they owe.

I agree with Lee Common & others-Owner finance or other creative financing may take off as good people cannot be approved for a mortgage.I make no predictions regarding banks and politicians fixing anything in a logical or timely manner unless it lines their own pockets.

Maybe we need to change the voting system so that voting becomes a 'privilege' and not a 'right' -- something that is earned.As long as politicians can earn votes by promising 'something' for 'nothing' they will continue to pander to the great number of people that want something for nothing.

Well Politicians make the laws right?

I think Sarah Palin is a breath of fresh air and I am fully behind having a President who isn't a Washington Politician.

Hi again, About European Union - they give us a lot of money for our infrastructure, but of course our politicians steal almost everything.