Millions of homeowners could save big money -- and possibly their homes -- by refinancing to today's historically low rates. But most don't even apply. Nearly one in five homeowners who are behind on their mortgage payments have loans with interest rates of 8% and higher -- nearly double today's

Mel Watt, director of the Federal Housing Finance Agency. One of the mortgage industry’s most influential regulators told a Senate panel Wednesday that a controversial form of debt relief for borrowers who have no equity left in their homes is “not off the table.” But that was not good enough