[Always Right]

The only borrowers it "helps" are those whose most financially rewarding course of action would be to walk away from their white elephant.

That was the plan. These loans in many cases are held in funds and can not be easily renegotiated unless it is in the best interest of the fund investors. So yes, legally only those that are most likely to walk away can be given the option.

[Nervous Tick]

My question:

This is supposed to help ONLY owner-occupants, NOT speculators.

What exactly will be done to enforce that?

And... my understanding is that there have already been many mortgage loans made under the condition that the borrower was the occupant, but the system was “gamed” and the borrower was actually a speculator. What is supposed to be different this time that will keep this from happening (when mortgage lenders couldn’t enforce it the first time around)?