The federal government has created more programs to help struggling homeowners keep their homes. The government has to walk a tightrope of sorts to help homeowners having problems making their mortgage payments while ensuring that homeowners who are struggling but continue to make their mortgage payments on time don’t become angry. The new programs are designed to help the more than seven million households that are behind on their mortgage payments as well as the 11 million who are upside-down on their mortgages or owe more than their homes are worth. White House officials say that if the plans work as intended, struggling homeowners will be able to keep their homes through payments they can afford with mortgages that more closely resemble current market values. If successful, the programs would significantly reduce foreclosures and stabilize housing markets across the country. “We’re walking that delicate balance to make sure these solutions are sustainable and not temporary,” said David H. Stevens, Commissioner of the Federal Housing Administration. However, if the bold plan does not achieve its goals, it could result in embarrassment for the Obama administration and make them devise another plan to accomplish the same goals again in a year or less. Critics say that the programs lack any teeth as none of them has the force of law, and lenders say that they have no good reasons to participate in the programs. While the effectiveness of these programs may be in doubt, if you’re looking for residential or commercial Louisville real estate, there’s no doubt about who has the best selection and service in the area. Louisville Properties has the experience to exceed clients’ expectations. Call today at 502.744.9504. Resource Link: http://www.nytimes.com/2010/03/27/business/27modify.html?scp=1&sq=Administration%20Plans%20Program%20to%20Cut%20Mortgage%20Debt%20of%20Troubled%20Borrowers&st=cse