Sounds to me like another bank bail out but being billed as help for the home owners.
actually this is the existing program with a new press release.
seriously.
the 31% program has been in place for a few months.
it is all smoke and mirrors.
few if any qualify so there is the ILLUSION of help without any help.
it is all big brother propaganda.
(your 20 gram ration is now increased to 20 grams)
Most of these people are better off filing a ch 13 or 7 where the credit cards and second mortgage are eliminated and they can reboot their lives.