Why foreclosure help isn't working
Broadcast: Midmorning, 04/29/2009, 9:06 a.m.
Following the failed HOPE for Homeowners program, President Obama has introduced a new plan to give mortgage lenders incentives to lower borrowers' costs on second mortgages. A look at what works and what doesn't to prevent foreclosures.
- John Taylor: President and CEO of the National Community Reinvestment Coalition, which promotes access to loans and banking services.
- Mark Ireland: Supervising attorney, Foreclosure Relief Law Project. It's part of the Housing Preservation Project, which promotes housing and home ownership in low income communities.
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