Don't know when this will happen or details but it would be nice for the young professionals who bought a few years a go and are underwater but have been responsible to be able to refi. I know alot of them that have balloon or 5 year arms but have been current and won't be able to afford it if their balloon is due.

http://www.washingtonpost.com/business/obama-proposes-refinancing-plan-for-homeowners-officials-estimate-3000-annual-savings/2012/01/24/gIQAEQzrOQ_story.html