The Real Deal Miami

Foreclosure plan helps some, not all

February 23, 2009 06:51PM

FDIC chairwoman Sheila Bair spoke to ABC about who President Barack Obama’s foreclosure plan will and won’t help and when it might start to have an impact on homeowners. Bair said that the plan might not help homeowners who have been making their mortgage payments on time even though their homes have lost value, but does target the root of the problem — homeowners who are behind on their payments. Bair added that she expects the number of “meaningful” home loan modifications to increase in March.