President Obama unveiled details of a new Homeowner Affordability and Stability Plan today. The key components are:

  1. Government Sponsored Enterprises (GSEs) refinancing for up to five million responsible homeowners with GSE loans to make their mortgages more affordable
  2. A $75 billion homeowner stability initiative to reach up to four million at-risk homeowners
  3. Supporting low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac

As you might expect, NAR not only supports the plan, but they’ve also done a nice job summarizing it for Realtors.

Now you know.