There are always outliers that benefit. But think about it for just a second. If the masses miss mortgage payments, lose their homes, cause housing prices to crash, thus a 2008 downward cycle, that cause banks to start to go bankrupt, causing the banking system to collapse or be bailed out.
Which is better? Give a lifeline to all those scraping by homeowners with one foot in the middle class, or bail out the banks so that the economy still functions? If you give the lifeline, then the banks don’t need a bailout and folks keep their homes.
Yes, my tax bracket means I’m funding this, and I’m ok with that. I want to see millions keep their homes (which means BOA doesn’t need a bailout) vs the alternative of millions of new homeless that lost their pitiful mortgages and we still have to bail out the banking system.