Kathy Linderman

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Kathy Linderman

Obama's plan to begin to mend the housing crisis

President Obama unveiled his general outline for his $75 billion plan to help ailing homeowners.  For the 3 million people on the brink of foreclosure, there will be some kind of help to bring their mortgage payments down to 31% of their income.  For the 10 million who are upside down in their mortgages (they owe more on their mortgages than their homes are worth), there will be a possibility to refinance at today's low interest rates.  Full details will not be available until March 4, 2009.
Published Thursday, February 19, 2009 9:53 AM by Kathy Linderman

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