Key Details of Admin Housing Plan Emerge

WASHINGTON — The Obama administration Wednesday unveiled key guidelines for its housing market rescue plan that should enable loan servicers to immediately start modifying eligible mortgages. “Two weeks ago, the president laid out a clear path forward to helping up to 9 million families restructure or refinance their mortgages to a payment that is affordable now and into the future,” Treasury Secretary Timothy Geithner said Wednesday in a statement. “Today, we are providing servicers with the details they need to begin helping eligible borrowers.”