The National Association of Consumer Bankruptcy Attorneys created an online petition for the White House to reduce foreclosures. The plan is called Principal Paydown Plan (PPP). Someone in a chapter 13 bankruptcy case would apply all of their monthly mortgage payment towards the prinicpal of the loan and nothing towards the interest. This would greatly decrease interest payments and would lead to more equity for the houseowner. A mortgage loan that is underwater, meaning you owe more on your loan that the value of your house, would change to equity for the houseowner. The mortgage payment would be lower and it would be easier for the houseowner to refinance the loan to lower interest rates. If you want to support the petition follow the link below.