Obama's Mortgage Modification Plan: Will It Work?

If you've been following real estate news lately, you've surely heard about President Obama's Mortgage Modification Plan. It seems like an excellent plan, help homeowners & prevent foreclosures by modifying loans already taken out. '

I'm looking for your opinion, what do you think? Do you think the Obama Administration's plan to save homeowners will be effective?

* I don't think direct money to homeowners would help much. We saw what happened with the bailout money. If the support doesn't go straight to the cause, it can be derailed to the wrong intensions.

That's completely true.