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[absolutfailure]

Has anyone looked into the newest mortgage bailout plan?
It actually has some parts that apply to *gasp* people that have been paying their mortgage and didn't buy more than they could afford.

Comments

[learath]

I heard one proposal to try to drop the principal of all mortgages to 70% of current. What's the current plan?

[absolutfailure]

What I'd read was that the principal would not change but people who owe more than the house is worth will have the option to refinance given the refi is within 110% of the appraised value.
This could also be an option for people with a HELOC, and could be used to only apply to the primary mortgage.

This option is only available to people that have been keeping up with their payments.