President Obama unveiled details of a new Homeowner Affordability and Stability Plan today. The key components are:
- Government Sponsored Enterprises (GSEs) refinancing for up to five million responsible homeowners with GSE loans to make their mortgages more affordable
- A $75 billion homeowner stability initiative to reach up to four million at-risk homeowners
- Supporting low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac
Now you know.