Obama Lifejacket for those Drowned in Debt

If you owe more money to your mortgage lender than your home is worth, you are “underwater,” a term used to describe your unfortunate situation. President Obama has announced the expansion of a program that aims to help underwater homeowners refinance their mortgages to lower rates so that homeowners who owe more than 25 percent of the value of their home are eligible.
The program is called the Making Home Affordable plan and the change comes after a report revealing that the program has not yet reached enough of the people that it was trying to help in the first place. …read more