Report: Writing Down Underwater Mortgages Could Create 1 Million Jobs

Report: Writing Down Underwater Mortgages Could Create 1 Million Jobs: "pA report from the The New Bottom Line — a coalition of community, faith-based and labor groups — finds that “if banks wrote down all underwater mortgages to market value and refinanced the homeowners into 30-year, fixed-rate loans at current market interest rates, that would pump $71 billion into the national economy.” “That would amount [...]/p"~~~~thinkprogress.org~~~~