'Is the government getting ready to refinance your mortgage?'

from wapo.........

"If the Federal Reserve can keep interest rates low and Fannie Mae and Freddie Mac are willing to loosen their rules, you could refinance most of the mortgages in this country at around four percent. That wouldn't forgive anyone's debt, but it would make it easier to pay. It would also help a lot of households that are already paying their mortgage each month, but are strapped for cash once they have sent off the check. And because the government takes a loss when homeowners default on a Fannie-or-Freddie-backed mortgage, it could even improve the federal balance sheet over time. Oh, and because the government already owns Fannie Mae and Freddie Mac, the administration could do a lot of this without Congress"..............READ MORE