US Treasury’s Policy director Laurie Anne Maggiano said this,
"…The success of settlement efforts to assist more borrowers may also depend on whether the Mortgage Debt Relief Act is renewed. And since Treasury does not have the authority to extend the Mortgage Debt Relief Act set to expire at the end of this year, or the right to lobby for specific legislation, its director of policy called on servicers and other mortgage industry professionals to do just that."
Please forward this to everyone you know. Especially those that owe more on their houses than they are worth.
Underwater homeowners can also get a free ebook about their options at www.myownbailout.com
Thanks for your help.