Mortgage | featured news

Some believe the $75-billion proposal could provide the help they need to stay in their homes. Others -- even though they 'feel for people who are having trouble' -- say it's a taxpayer-funded bailout.

Chase CEO Jamie Dimon, whose bank received $25 billion in bailout funds from the government, refused to tell CNBC anchor Melissa Francis how the bank is performing this quarter.

"Can you tell me how this quarter is doing for JPMorgan?" Francis asked.

Dimon's brief response: "I can't."

As the Obama administration steps up efforts to help troubled homeowners modify their mortgages, it might consider the experiences of two South Floridians.

The Obama administration announced new plans to make it easier for up to nine million people to rework or refinance their mortgages. Geithner said the Treasury is increasing its funding commitment to Fannie Mae and Freddie Mac.

JPMorgan Chase & Co. and Citigroup Inc. are halting home foreclosures while the Obama administration develops its plans to help the U.S. housing market.

President Obama's administration is considering spending taxpayer dollars to cut monthly payments for homeowners on the verge of foreclosure, according to two people briefed on the proposals.

Banks can't unload their toxic assets. But what if their assets weren't toxic?

U.S. Treasury Secretary Timothy Geithner will lay out a bank-rescue plan on Tuesday that will rely on public and private funds to take $500 billion of bad assets off banks' books, sources said.

President Barack Obama promised on Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again."

Interest rates are falling, but potential borrowers face higher costs.