Consumers Union: Obama foreclosure-prevention plan offers hope for homeowners

Consumers Union, the nonprofit publisher of Consumer Reports and the Home & Garden blog, describes the Obama administration’s plan to fight foreclosures, announced today during an address by the president in Mesa, Arizona, as "long overdue help" for people at risk of losing their homes.

“This plan offers some hope to Americans struggling to keep their homes in the face of ballooning mortgage payments and declining housing values. It helps both homeowners and their neighborhoods by helping stabilize the value of their properties," says Pam Banks, policy counsel for CU.

Read the entire CU release and the "Help for Homeowners" FAQ at the White House Web site.