In Phoenix, Arizona today, President Obama says it's worth $75 billion to rescue nine million homeowners already in default or “underwater” with loans worth more than their houses. He said his plan would not reward “the unscrupulous or irresponsible” -- speculators, dishonest lenders or buyers who knew they were assuming obligations they couldn't afford. We hear how homeowners can qualify for assistance and get some informed reaction.
Barack Obama and Housing Foreclosures
Peter Coy - Bloomberg BusinessWeek, Peter Morici - University of Maryland - @pmorici1, Russell Roberts - Stanford University / EconTalk - @econtalker, April Charney - Senior Attorney of the Consumer Unit, Jacksonville Area Legal Aid