American Morning

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October 25th, 2011
10:57 AM ET

Will President Obama's housing plan help struggling homeowners?

From Nevada, a state where 1 in 118 homes are facing foreclosure, President Obama announced a series of executive branch steps aimed at jumpstarting the economy this week, beginning with new rules to make it easier for homeowners to refinance their mortgages.

The White House said changes to the two-year-old Home Affordable Refinance Program (HARP) will help homeowners with little or no equity in their houses refinance by cutting the cost of doing so and removing caps to give deeply underwater borrowers access to the program.

Paul Jackson, founder and publisher of HousingWire, discusses the president's housing plan and breaks down it's primary criticisms with Carol Costello on American Morning today.


Filed under: Economy • Housing