The Real Deal Miami

Housing plan won’t help everyone

February 20, 2009 03:46PM

President Barack Obama’s foreclosure prevention plan won’t offer much help to the unemployed or to many who owe significantly more on their homes than
those homes are worth, according to CNN Money. Unemployed people often don’t have enough money
to make monthly payments. And those homeowners who were able to make
their mortgage payments and who never entered foreclosure have been
unable to get mortgage adjustments but have still seen their homes
lose value.