The housing crunch has been such a key topic of conversation since the recession began. We wanted to know how President Obama's proposed home loan alterations will affect you as home owners.
But, will the president's news rules ease financial burdens or create more of a financial mess?
Housing is such a huge topic no matter where you live. What Obama outlined in his home loan program Monday seems to have fallen on somewhat accepting ears, at least here in eastern Idaho.
Nicole Packer is a single mom and she's also a homeowner with a mortgage to pay off.
When she heard Obama say he wants to make refinancing easier for everyone with home loans, mortgages and little equity, she quickly thought of her future.
"If he could make it so you could just transfer it over to another bank that has better rates without having to jump through all the hoops and everything, that would definitely be something that I would love to look into," said Packer.
She's said the president's proposal is also a double-edged sword, with possible negative outcomes from new options.
"To me, it just seems like it would cause problems with banks and stuff due to the fact that so many people would be like, 'Well, I'm just going to jump ship and go to that one'," said Packer.
Packer isn't the only one who's mixed on the idea. Deborah Criddle is a home loan specialist with Avery Financial in Idaho Falls.
She said Obama's proposal is great, if lenders will back him up.
"It'll be huge! It'll be huge because people will have the ability to save a couple of hundred bucks a month," said Criddle.
She said, in turn, that could have the potential to spark financial recovery.
"That couple of hundred bucks a month will go into groceries. Maybe they'll buy a new TV. Somewhere along the lines it will go back into the economy," said Criddle.
Criddle said eastern Idahoans weren't hit as hard as other parts of the nation or even Boise when the housing market began its slump. She said a lot of her clients are still struggling to make ends meet though.
Packer said her mortgage is so new she's not looking into refinancing just yet.