NBC Nightly News open - 2009-03-04

Channel: malgent

Transcript

Language: English (original, YouTube automatic captions)

[0:00] On our broadcast tonight, the plan.

[0:02] Today, we learned how the administration

[0:04] plans to help this mortgage crisis.

[0:07] Fighting back, the people get a voice

[0:09] against the drug companies and a major

[0:11] decision out of Washington today. War

[0:13] crimes. Will a man accused today of

[0:15] crimes against humanity ever be taken

[0:18] into custody? And Curry will be here

[0:20] with us. At your service, the perfect

[0:22] companion for those who need one and

[0:24] some help along the way. Also tonight,

[0:27] something new has been installed at the

[0:29] White House. A sign of a new family in

[0:31] residence. Nightly News begins now.

[0:38] >> From NBC News World Headquarters in New

[0:41] York, this is NBC Nightly News with

[0:44] Brian Williams.

[0:45] >> Good evening. If you are among the

[0:47] millions in mortgage trouble in this

[0:49] country, if you think you're headed that

[0:51] way perhaps, or if you've been affected

[0:53] by the economic fallout of the housing

[0:55] collapse in this nation, which after all

[0:57] sparked the financial collapse, this was

[1:00] the day we learned what the fix would

[1:02] be. How the Obama administration plans

[1:05] to help upwards of 9 million Americans.

[1:07] It's where we begin tonight with CNBC's

[1:10] Diana Ole. She's at the White House for

[1:12] us this evening. Diana, good evening.

[1:14] >> Good evening, Brian. And administration

[1:16] officials admit the plan is not meant to

[1:18] save every borrower, but millions of

[1:20] Americans could benefit from the latest

[1:22] government bailout.

[1:25] >> Thank you for calling 995 Hope. May I

[1:27] have your name, please?

[1:28] >> The calls came flooding in to this

[1:29] mortgage hotline office in New Jersey,

[1:31] even as the details were barely out.

[1:33] >> Do I qualify under the president's new

[1:35] program?

[1:36] >> It's a question a lot of borrowers have,

[1:38] and today they got some answers.

[1:40] Homeowners would need to be in or in

[1:42] danger of default, their loans no

[1:44] greater than the current Fanny and

[1:45] Freddy maximum loan limit, and the home

[1:48] must be their primary residence. Lenders

[1:50] would reduce monthly payments to equal

[1:52] 38% of the borrower's gross income, and

[1:55] then the government would subsidize,

[1:56] bringing it further down to 31%.

[1:59] >> Maybe that will help us. That's what I'm

[2:02] hoping for.

[2:03] >> It could help Robert and India Matia.

[2:05] They used to split the mortgage payment

[2:07] on their Maryland home with Robert's

[2:09] mother, who recently passed away.

[2:11] >> We would do anything to save this house.

[2:13] >> The government will pay loan holders and

[2:15] servicesers cash incentives to drop

[2:17] interest rates as low as 2% or extend

[2:20] the loan term to 40 years with the goal

[2:22] of that affordable monthly payment.

[2:24] >> Not every homeowner will be eligible. Uh

[2:27] but not every homeowner can or should be

[2:29] saved by the federal government. But

[2:31] unlike previous industry efforts,

[2:32] borrowers are now eligible for

[2:34] modification even if they owe more than

[2:36] their home is worth, which describes one

[2:38] in five borrowers today. It was very

[2:41] disappointing to realize