obama mortgage plan

The Obama administration is revamping a program that's designed to let more homeowners refinance their mortgages even if they don't have any equity. This isn't a new program, but instead attempts to turbo-charge an existing federal initiative called the Home Affordable Refinance Program. Here's a look at some frequently asked questions.

The administration's proposed revamp of Fannie Mae and Freddie Mac is actually an offering of multiple policy options, essentially passing the political hot potato to the Republicans. Problem is, any fix is sure to make mortgages costlier, with potential harm to the housing market.

Rules for the Obama mortgage rescue plan were released today. The plan focuses on two distinct groups of borrowers. The first group is made up of borrowers who are delinquent and who want to modify their loans so they'll be more affordable. To qualify for loan modification help, you must have lost...