Fascinating stuff… Reuters says:

Homeowners redefaulting after getting aid

More than half of mortgages modified in a bid to avoid foreclosure fell delinquent within six months, a top U.S. banking regulator said on Monday, casting doubt on a proposal to rewrite home loans en masse.

Comptroller of the Currency John Dugan said it was unclear why so many borrowers ran into trouble again so soon after getting help…

Are we going to need to bail out the people we’ve already bailed out?