an member station

On Wednesday, President Obama launched a new plan to cut through red tape and encourage banks to refinance mortgages that are under water. It would, on average, free up $3,000 to each family with a mortgage. But how practical is that? Will the banks want to lend on properties that are 50% below their buying prices? And why would they voluntarily lower the interest rates they're charging?

Brian Deese, Deputy Dir, Natl Economic Council

Support comes from

Now Playing
My Queue
Press Play to start audio

My Queue

Nothing Playing

Add some items to your playlist to play them.