I think its going to have very little effect, mostly on marginal cases.
Its not going to help folks carrying investment properties, lose their job or are so far underwater that its in their best interest to toss the keys.
I actually don’t have a problem with the ‘bailout’ efforts to date, they people that benefit are going to be stuck paying interest on a depreciating asset for at least the next decade. They would have been better off renting.
