New housing law is no handout

The new federal law designed to help homeowners in mortgage trouble
won’t be a simple bailout, according to columnist Harriet Johnson
Brackey. The biggest beneficiaries will be qualified buyers who want to
refinance on better terms after taking on subprime loans that may have
been easier to get during the boom. The Hope for Homeowners Act will
only apply to people seeking to refinance their primary residences, and
doesn’t apply to investment properties.