By Jeremy Steinbren Millions of modifications have been granted without principal reduction of the mortgage and millions more turned down that could have worked if the principal were reduced. But now banks are starting to see the light. They have recognized though the pain of owning a lot of real estate doing a modification and some principal reduction, if it's warranted, makes more sense than just foreclosing or doing a short sale. This wasn't always the case. Also millions of homeowners have...