Relief for the innocent bystander victims of the subprime catastrophe

Millions of hard working American who played by the rules have ended up with their economic survival threatened by the subprime mortgage/mortgage backed securities (CDOs)catastrophe. Foreclosures have killed the huge real estate sector of our economy with ripple effects that continue to drag the US economy down. Yet no one has seriously addressed this at a national level. Many experts in the real estate economy call for national relief to innocent bystanders with fully qualified, non speculative mortgages who are being dragged under. Congress needs to act. The lending institutions need to be forced by presidential decree to negotiate in good faith with mortgage holders who have held on, paid their bills but are going to become part of the foreclosure statistics without immediate help.
Simply mandating that everyone with a conservative, long term mortgage be afforded an immediate, expedited and simple option to allow for a refinance at low current rates. The lender should be mandated to do this without red tape and without involving third party vendors seeking mainly personal profit. This has the potential to save millions of honest Americans from financial failure and ultimately help eryone else in America, by slowing or stopping the slide of the real estate market toward ever more underwater properties and further economic chaos. The big banks and others who caused this debacle have been given free money from our tax payments. It is not much to ask that honest, hard working citizens holding conservative, traditional mortgages be granted a simple chance to survive by taking part in the low mortgage rates available today. There is no downside to this. It has been ignored by congress and the president and the people of the United States need to stand up and demand mortgage relief from Washington DC.