Wow what an idiotic basher. PMI only chance was for home prices to bounce? Hellooooo have you read about loan modification/principal forgiveness program? What a moron...so not worth my time. Click...Ignore.
Mortgage Insurance still has to pay out when a loan is modified. This new plan will just encourage everyone to stop paying their mortgage for two months in order to try to qualify. And once you stop paying your mortgage on a house that is 25% underwater, there is no going back. Just live in your house for 12 months rent free why they try to kick you out. That is american way.