Refinancing for underwater homeowners

obama loan form for mortgage
US President Barack Obama holds up a simplified loan form as he speaks about the housing market and the overall economy on Feb. 1, 2012.
SAUL LOEB/AFP/Getty Images

President Barack Obama is calling on Congress to pass legislation mandating banks allow homeowners to refinance even if they are underwater on their mortgage. Critics say the legislation will do no more to solve the housing crisis than the President's previous efforts.

Kerri's guest is Barry Zigas, director of housing policy for the Consumer Federation of America.

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