Uncertainty Looms Around Obama's Mortgage Initiative

Law360, New York (January 25, 2012, 8:20 PM EST) -- In the State of Union address Tuesday, President Barack Obama proposed to tackle lingering problems in the real estate market by helping underwater homeowners refinance and prosecuting reckless lenders, but it’s too soon to tell whether the measures stand a chance of making an impact, experts said.

So far, little is known publicly about the plan, but certain elements have attracted ample attention. As part of the list of goals outlined in his speech, the president said he would send Congress a plan that would allow...
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