Californians Whining About The Obama Refi Plan

Anyone care to bet how long it takes the Obama administration to expand the guidelines under their refinance plan?

Amid concern that many Californians would not qualify for assistance from the federal anti-foreclosure plan, a powerful state legislator called on the Obama administration to make more homeowners eligible.
The plan limits federal refinancing assistance to people who owe just a small amount, 5% or less, over what their homes are worth.

But Assemblyman Ted Lieu (D-Torrance), who has a strong interest in lending issues, said Friday that that’s not enough to help Californians, many of whom owe significantly more than that.
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