this is not targeting those facing foreclosure, but it could help some folks who are perhaps on the edge. perhaps thinking that a couple of months from now they are not going to be able to keep paying the high rates. there a lot of things you have to qualify for, number one being current on your payments. on andrea mitchell reports, shawn donovan was on and said the administration could not say how many homeowners this program will actually help. is that of a concern? it s a big concern. i saw him asked a couple of times and he was not able to put a number on it. analysts put it between 1.5 to potentially two million borrowers. there six million borrowers who are behind on their mortgages or facing foreclosure and that does not include all the millions of
again, a few phone calls and those kind of things, you have to have a robust discussion. congress needs to be involved in this process. but you re not saying there has to be a vote. you re not saying i don t believe under the wars powers act, i don t believe there has to be a vote. i do think that the president would be wise from both getting buy-in in the future. and remember, there is a lot of mistrust i hate to say about moving forward on national security issues right now. that doesn t mean you get to do what you want. that means you will have to get buy-in. and you have to have these discussions. you have to bring members in. i think the administration is obligated to do that. again, i think they re trying to do it on the cheap here. i wouldn t do that if i were them. that s been my recommendation to them is not to do that. and we have to have that more robust discussion to get again not only members of congress and the representatives of the country involved, but also to
been briefings but not detailed military plans. what more do you think congress needs to know before the president authorizes military strikes? well, as chairman of the intelligence committee, we get access to the information that larger body of members don t have access to. i think it s very important for legal reasons and for doing the right thing by getting buy in from the congress that the administration talk to a broader set of members to get buy-into the program, to go over the evidence so that when we take what is a very difficult decision, you have buy-in by members and buy-in by the public. both are critically important and right now none of that is happening. and it just raises a lot of questions about whatever you re planning to do, and we know there are a series of options on the table, what happens next. what are the consequences of doing something, what are the consequences of not doing something. all of those discussions have to happen with a broader set of members or
in nevada alone, 80% of home owners are right now under water. nationally the number are 25%. cnbc covers the housing market for us. 15 or 25% in this nation under water and 80% in one state. how does the president s plan help? it helps those who are under water owing more through a refinance. a lot were shot out of the refinance market because they didn t have equity in their homes. this is an expansion of a current refi program. you must have a fannie mae or freddie mac loan and must be current on your payments for at least six months.