help, will it help you. ed butowski joining me now. hi, ed. hi, jamie. you re in one of the worst housing markets down in texas. the question is whether or not it will help these homeowners looking at mortgages bigger than their home is worth. some had to move out. is this new plan from the president going to help folks out like that? any plan that can help lower the rate that people are paying right now will certainly help. so, you know, conceptually this is wonderful, because the average mortgage is 6.75%, almost 7%. based on the president s plan this could save about $3,000 a year for most people in need of this. it s a great plan if it would work. the magic thing that i heard in that sound bite was no more red tape, because in 2009 the president had the affordability and stability act. it was supposed to help homeowners with $75 billion in
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