This may help people affected by job loss, assuming they can get a new job at equal pay digging a ditch for Obama.
For the droves of speculators who thought they struck gold when they bought a house in the last 5 years however, it will only delay the inevitable and force banks to take a larger loss when they have to write down the principle.
I’m starting to wonder if Washington will ever figure out price declines and foreclosures ARE the solution, not stopping them.