A Mortgage Lifeline, But Not For All

The $275 billion program the Obama administration hopes will prevent some of the six million foreclosures projected for the next three years will lower monthly payments for millions who owe more than their homes are worth, due to falling home prices. It won't help those with mortgages exceeding 105 percent of a home's value, and there's no lifeline for landlords or people with second mortgages. Congress meanwhile will decide whether bankruptcy judges should be allowed to change the terms of loans. Stay on top of our economic choices: see our Citizen's Survival Kit.