Obama's new housing plan

There's been a lot of confusion and a lot of debate over President Obama's mortgage relief plan. The plan aims to benefit two homeowner categories:

1) Homeowners who have been making their monthly mortgage payments, but due to the current real estate climate are unable to refinance their loans down to more attractive rates.

2) Homeowners who are at risk of foreclosure.

This graphic from the New York Times does a nice job of outlining the bill and provides some examples of qualified and non-qualified homeowners.

Have a good Friday,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com