How's this for a plan?

[johnlal]

Allow consumers to file a "short form" request to re-write their mortgage to their local bankruptcy court. No showing of insolvency is necessary, only that the mortgage is a burden. Congress promulgates the rules. The Bankruptcy court reviews any allegations of fraud or abuse. People who might file bankruptcy or just walk away from their homes would now be able to keep and afford their homes, while banks keep some of the value in their mortgages. No need to qualify for a new loan to refinance the old one, no origination fees, appraisal fees, etc.