The Mortgage Forgiveness Debt Relief Act and Debt Cancellation Many banks and other observers are now saying, because of poor wording in this act, that many people who were not behind on their mortgages are now in fact deliberately getting behind. so they can then have the Government intercede, and force the mortgage company to renegotiate their loan. This is just one example where a good idea, is abused, and will cause massive waste, simply because our representatives rush things through with out thinking them through completely. They have created a reason for people not to pay their mortgages. If you owe 95% or more of the value of your home for example, as a working Couple. Today you can have one of you quit your job, deliberately get 3 months behind on your mortgage, and then apply to have the government negotiate your mortgage down to 33% of your new lower income. Then your spouse goes back to work, and walla you have a much lower interest rate, and possibly even a lowered principle, all because you took advantage of an act meant for those really in need. This law encourages poor behavior, and it is just one example of how government programs are and will be massively abused. AS will the programs in the new Stimulus. This is a shining example of why Conservatives think Government involvement in anything is a bad idea.