A Brief Sketch of Tomorrow’s’ Housing Speech

Feb 17, 2009 8:20pm

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

avoidable foreclosures;

* 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 –

- jpt

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