Assuming Congressional approval, those homeowners who are underwater (meaning they owe more on their home loan than the home is worth) will get some federal assistance in their mortgage. Or at least pledges
President Obama during his State of the Union address last night.
Considering how many folks bought homes during the period of 2005 to 2008, there's going to be a fair amount of people who are underwater. This certainly comes as a welcome reprieve.
With all of these pieces of good news, maybe we'll will the economy to get better.