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Mortgage heavyweights Fannie Mae and Freddie Mac have announced a bailout program for struggling homeowners who are current on their payments. If there's a pressing need to leave their property, they can just walk away.
Federal regulators announced new rules that should make it easier for underwater homeowners to sell their houses.
A federal housing regulator is rejecting a White House plan to help borrowers who are underwater on their mortgages. That means they owe more than their homes are worth and there are about 11 million people in that category. The Federal Housing Finance Agency said the potential benefits of cutting mortgage balances for those people don't outweigh the costs.