In this Wednesday, Oct. 12, 2011, photo, the house of Dan and Maggie Micof is seen in Marine City, Mich. The Micoffs bought their two-bedroom home in the Detroit suburb in 2003. They paid $119,000. Eight years later, they’re underwater with a 6 percent loan. Today’s record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most, but the Obama administration is hoping at least 1 million of these borrowers will take advantage of its refinancing program under the more lenient rules unveiled Monday, Oct. 24, 2011. (AP Photo/The Port Huron Times Herald, Mark R. Rummel)
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