Obama's underwater rescue - by Eric T. Schneiderman

``It has been more than five years since the housing bubble burst, but millions of Americans are still fighting to keep their homes. In the fourth quarter of 2012, 10.4 million properties -- 21.5% of all homes with mortgages -- had "negative equity," owing more on their mortgages than their properties were worth. Right now, these homeowners are trapped under a $628 billion mountain of negative equity. Banks move to foreclose on 250,000 properties each quarter. That's 2,700 families each day moving one step closer to losing their homes.''