President Obama announced new help for struggling homeowners today!  The new program will help those who are unemployed and those who owe more than their homes are worth. 

For those who are unemployed, the program will force lenders to cut their mortgage payments to 31% of the owner's income (usually unemployment benefits) for up to 6 months.

The program also offers incentives to banks who offer principal reductions to homeowners who owe more than their home is worth. 

People are hopeful that this program will not only help individual homeowners, but the economy as a whole.  Only time will tell!

For more information about this program, please contact Rachel Diedrich with Cool Denver or visit her website: