Data show about 20% of U.S. homeowners with mortgages are "under water," meaning they owe more than their home is worth.
The Obama administration's $75 billion plan enables even those homeowners with negative equity to modify their loans. The program targets homeowners who are facing imminent hardship. Meanwhile, the administration continues to push for legislation that would give bankruptcy judges the authority to alter mortgage terms. Reuters.
Will this work is the question.