I can’t agree. The protection is that mortgage lenders have assurance that borrowers can’t just file bankruptcy and change their loan terms. How can we motivate mortgage lenders to keep giving loans if they have to be concerned the terms of those loan can be altered?

I understand that sometimes bad things just happen to people, but I’ve also seen plenty of instances where people are just careless with their finances. It’s not fair to punish lenders for borrower’s bad choices. Regardless of anything else, those borrowers did *choose* to take those loans and they did agree to pay them off completely.