DN! Obama to Announce New Program to Help Homeowners

Obama to Announce New Program to Help Homeowners The Obama administration is expected to announce today broad new initiatives to help troubled homeowners, potentially refinancing numerous million of them into fresh government-backed mortgages with lower payments. Part of the plot will help the jobless and those underwater with mortgages larger than their homes value. Many details of the administrations plot remain doubtful.

March 26 Biz Minute

The Obama administration launched a plot today to reduce the amount some troubled borrowers owe on their home loans and give jobless homeowners a temporary break. The escalation in aid comes as the administration is under rising pressure from Congress to resolve the foreclosure crisis, which is straining the economy… But the new initiatives could well spur protests among those who have kept up their payments and are not in distress….