According to this article at CNNMoney.com, Obama expands foreclosure fix, the Federal government is expanding the FDIC run mortgage modification program to cover both first and SECOND mortgages. This program is supposed to get the lender to adjust the payments down to 31% of people's income. Not many people have used it and it hasn't really worked as those who are delinquent quickly get delinquent again. Now in a bid to get more to use it the government is allowing the second mortgage people took out to pay their down payment to be included.
The interest rates will be reduced to 1 or 2%. Next it will be home equity loans, or vacation homes, or just give people money. Why do I pay my mortgage every month?