Obama plan will offer targeted help, observers say

02/20/2009 | TIME (subscription required)

The Obama administration's plan to stop mortgage foreclosures could help specific groups of borrowers, but it is not expected to stop the decline of housing prices. The plan includes spending $75 billion to restructure loans of homeowners facing foreclosure. "This will help some people who deserve to be helped," said Joe Gyrouko, a professor of real estate and finance at the University of Pennsylvania's Wharton School. JPMorgan Chase CEO Jamie Dimon agreed, saying Wednesday on CNBC that he thought the plan would "lead to a lot more modifications."

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