Comments on: Will FHFA opposition to principal reductions boost eminent domain efforts? Where Wall St. and Main St. intersect Fri, 22 Nov 2013 23:06:16 +0000 hourly 1 By: CAS100 Wed, 01 Aug 2012 18:29:38 +0000 I sure hope so. I never asked freddie to purchase my loan from gmac, they did that themselves and now were unable to participate in any of the treasury dept approved principal reduction plans. Being 200k underwater on what was a 450k home by way of tons of fraudclosures in our area doest leave us with any other options but to walk away, short sale or deed in lieu all of which amount to principal reductions paid for by us tax payers. If fhfa wont allow participation then we should cut off their bailouts. I’m sure they would change their tune in a heartbeat. If eminent domain will get the job done then start the lawsuits and be done with this already. Obama has been a total failure to main st, but he sure moved quick to save wall st. After all just last week we leaned in Barofskys book that geithner said these programs were all set up to “foam the runways” and slow down forecloses to help banks. Its never been about whats best for america, the middle class, tax payers or justice its always about saving banksters.