Is a Big Deal on Homeowner Mortgage Relief on the Horizon?

The New York Times reports that "[a]bout one million homeowners facing foreclosure could have their mortgage burden cut by about $20,000 each as part of a long-awaited deal taking shape among state attorneys general, federal officials and the nation’s largest mortgage servicers." President Obama hoped to have a deal he could announce in tonight's State of the Union address, but the Times says that is looking unlikely. We'll see.

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[new homeowner list]

If you've felt like a spectator on the sidelines with today's low mortgage rates, there are two new opportunities that could help you refinance your loan even if you're upside down in your house.