Obama mortgage relief plan could come next week
Puget Sound Business Journal
Date: Wednesday, August 31, 2011, 5:30am PDT
Troubled homeowners may get some help next week when President Barack Obama unveils a new plan that could revive the nation’s ailing housing market.
Reuters reports that in addition to announcing a jobs stimulus plan, Obama will also announce a mortgage refinancing plan that would allow homeowners who are under water (owe more than their house is worth) to obtain a new mortgage at today’s historically low interest rates.