then i think the people in the story have a point
no?
Yes, I think they do have a point. But they aren't making many friends in the process. Being "right" doesn't always make you right. This will help people keep their homes and investors will still get paid. Stopping this to make a few extra bucks doesn't exactly make these investors look good.
No one is complaining about modifying the mortgages of those who are in default or in imminent danger of going into default. Obviously, modifying that mortgage will benefit everyone, but Obama's plan will pay mortgage servicers to modify the mortgages of anyone whose monthly payment is more than 31% of their income even if they are paying on time and are in no imminent danger of default. The cases the investors are threatening to sue about have nothing to do with keeping people in their houses.
And this is not an oversight. In the FAQ sheet Treasury put out they specifically advise people to apply for mortgage modification even if they are not in danger of default if their monthly payment is more than 31% of their income. This is what the investors are pissed off about.
BUT if they didn't do this, then those paying their mortgage would just STOP paying it so they could get in trouble so they could qualify....?