It's a 60-day deferment. Two months -- that's all. You almost want to ask them "why bother"?
It may only be 60 days, but it's the camel's nose under the tent. Once they allow people to stiff their mortgage holder for two months, what's next? Why, certainly, what comes next is a two- or three-month extension, just like the current move toward lifetime unemployment benefits. And after these poor, innocent victims of Bushco are spared foreclosure for six months, or twelve months, what kind of heartless monster would oppose yet another extension? Who wants to get the Jim Bunning treatment? Mortgages will become as desireable an investment as General Motors bonds, but only the rich will be able to afford mortgages in the future, so who cares? After all, single-family homes brutalize Mother Gaia as badly as internal combustion engines.