Obama Modification Plan Rolls Out

" The $75 billion mortgage refinance and modification plan launched Wednesday by the Treasury Department is estimated to reach some 9 million homeowners, according to Treasury estimates. The Making Home Affordable program’s guidelines will offer servicer and borrower incentives and are designed in such a way as to allow for immediate modifications, the Treasury said. “It is imperative that we continue to move with speed to help make housing more affordable and help arrest the damaging spiral in our housing markets, just as we work to stabilize our financial system, create jobs and help businesses thrive,” Treasury secretary Tim Geithner said in a media statement. “Economic recovery requires action on all three fronts.”"