Obama's plan is great, if the year was 2007...Part 1

It might be a little to early to make a judgment on the new foreclosure prevention plan announced by the Obama administration but the little I was able to read doesn't give me much hope. The fact that the refinance part of this plan would cover those mortgages that were, at a maximum, 5% over the homes value is troubling. That would have been a great plan if this were the beginning of the crisis and not two years into it. There are communities where the values have dropped so quickly that people are 30%, 40%, 50%, and in some condo communities here in Florida it reaches 80%, below their mortgages. Don't misunderstand my point, this could help a lot of people but not nearly the amount that will be needed to help stabilize the market. Until the market stabilizes there will be no recovery.