Many experts say reducing mortgage principal can help troubled homeowners stay in their homes. But two of the nation's largest mortgage holders, Fannie Mae and Freddie Mac, have not signed on to the idea.
Despite some green shoots in the economy, the housing sector remains weak. With 11 million Americans still underwater on their mortgages, some housing experts believe it's time for more dramatic solutions.
The idea of reducing the principal on the loans of underwater homeowners used to be a fringe concept, embraced by a few outliers. Today, many policymakers believe principal reduction is necessary to keep some troubled homeowners afloat.
But so far, the nation's biggest mortgage holders, Fannie Mae and Freddie Mac, haven't embraced the idea.
There's been lots of talk on the Web and the news channels today about The Washington Post's front page account of what happened when Barbara Johnson went to Communion on Saturday during the funeral mass for her mother in Gaithersburg, Md.
The priest, Rev. Marcel Guarnizo said he would not give her the sacrament because she is a sinner.
Then-Sen. John F. Kennedy participates in a question-and-answer session with the Ministers' Association of Greater Houston on Sept. 12, 1960, in Houston. In a speech to the group, Kennedy addressed concerns about his Catholicism and his run for the presidency.
Credit Mark Humphrey / AP
Republican presidential candidate Rick Santorum, shown at Temple Baptist Church in Powell, Tenn., on Wednesday, says John F. Kennedy set the foundation for expelling faith from politics.
When GOP presidential candidate Rick Santorum was growing up, he says, John F. Kennedy was a hero in his Catholic home.
In a speech last year, he said he had always heard glowing reports of Kennedy's speech about religion to Protestant ministers in 1960.
"And then very late in my political career, I had the opportunity to read the speech and I almost threw up," Santorum told a group of college students last year. "You should read the speech. In my opinion, it was the beginning of the secular movement of politicians to separate their faith from the public square."
Originally published on Wed February 29, 2012 4:02 pm
On its opening weekend, the Navy SEAL's movie Act of Valor grossed over $20 million at the box office. The military movie is believed to be the first to feature active duty military personnel as actors in the film.
Originally published on Wed February 29, 2012 2:36 pm
Scary labels the U.S. Food and Drug Administration would require on cigarette packages later this year were nixed today.
U.S. District Court Judge Richard Leon in Washington ruled the requirement that cigarette makers put the labels — some quite gruesome and all quite large — on their products would "violate the First Amendment by unconstitutionally compelling speech."