According to the federal Office of the Comptroller of the Currency, 58% of mortgage loan modifications done in the first quarter of this year have re-defaulted, and fell delinquent within the first eight months of the year. Diana Olick, CNBC’s real estate correspondent, believes the government should let bad credit mortgage loans go into foreclosure instead of implementing mortgage relief.  She doesn’t believe that home loan modifications work and her idea is to get good credit borrowers who can afford the properties to purchase up the homes. However, Steve Liesman, CNBC’s senior economics reporter, said widespread mortgage modification is the key to fixing the foreclosure crisis.