?Yes, but how many people is it REALLY going to help??

That's what I asked when the new FHA Secure Plan was introduced back on August 31st. This is from the HUD News Release on that date: President George W. Bush today announced that HUD's Federal Housing Administration (FHA) will help an estimated $240,000 families avoid foreclosure by enhancing its refinancing program... The eligibility requirements of the program? Homeowners must meet the following criteria: A history of on-time mortgage payments before the borrower's teaser rates expired and loans reset; Interest rates must have or will reset between June 2005 and December 2008; Three percent cash or equity in the home; A sustained history of employment; and Sufficient income to make the mortgage payment. I remember thinking to myself, "sure they make it sound like a great program and