A Democrat familiar with President Obama’s plan to stem the tide of home foreclosures — which he will present tomorrow in Phoenix — tells ABC News that tomorrow the president will announce a plan that:
* will help responsible homeowners afford their mortgage payments;
* will enable millions of Americans to refinance or modify their
mortgages to get their monthly payments down, giving them much needed relief in this time of economic distress and preventing millions of
* will encourage servicers and lenders to do the right thing and give
relief to struggling homeowners;
* will reward people for playing by the rules.
I realize this is fairly vague. More to come –