February 19, 2009
...But it's unclear how many in Silicon Valley will benefit since so many homeowners have big mortgages that may not qualify for one of the programs announced Wednesday. Overall, the plan was greeted warmly by the housing industry and economists, who said it provides a way for homeowners to reduce their loan payments while helping ease the gridlock in the nation's home lending sector.
It's "something that we welcome," said Delores Conway of the University of Southern California Lusk Center for Real Estate...