WOODBURY - President Barack Obama has announced today plans to let all homeowners with privately held mortgages refinance.If the plan is approved, the average homeowner could save about $3,000 a year, and even underwater homeowners could participate. "It triggered the worst economic crisis of our lifetimes, and it has been the single biggest drag on our recovery from a terrible recession,? the president said, referring to the burst housing bubble. Obama has conceded that his administration's previous housing plans have not lived up to their promise.