Statement by AFL-CIO President Richard L. Trumka On President Obama’s Plan to Help Homeowners Refinance Underwater Mortgages and Create a Homeowner Bill of Rights

Washington, DC–(ENEWSPF)–February 2, 2012. President Obama proposed welcome new assistance to homeowners who cannot refinance their mortgages because the bursting of Wall Street’s real estate bubble has led to the precipitous decline of their homes’ value.  These underwater mortgages are hampering America’s economic recovery by preventing homeowners who are current on their mortgage payments from taking advantage of today’s low interest rates.