As part of the $787 billion economic stimulus plan that was revealed Tuesday, February 17, 2009,  Obama has put aside $75 billion in an attempt to protect nearly 9 million Americans from losing their homes.  The particulars of the plan will not be announced until March 4, 2009 and according to Treasury Secretary, Timothy Geithner, the relief effects will be instantly noticeable.

Geithner also noted that the $25 billion increase from the original $50 billion that was first spoke about, is necessary to make the program work. The foreclosure plan, known as the Homeowner Stability Initiative, will only benefit the "families who have played by the rules and acted responsibly, it will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans", according to  President Barack Obama.

The Homeowner Stability Initiative will provide incentives to mortgage lenders for cutting monthly mortgage payments by up to no more than 31 percent of the homeowner’s monthly income.  It will also provide aid to homeowners who are suffering with home values that are below the principal of what  is still owed on their mortgages, but only if their homes are owned or guaranteed by Fannie Mae or Freddie Mac. 

The plan will not help every homeowner; however, you don't even have to be delinquent on your mortgage to get help. 

Obama stressed that,  "All of us must learn to live within our means again."