Obama unveils plan to help struggling homeowners

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

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.

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