According to this article, the government may be seeking to prime the pump for refinances once again. It's already possible for some homeowners to refinance at todays low rates even if they are underwater. But most underwater borrowers still dont qualify. Although no details have been released, additional loosening of credit guidelines could help spur the economy by allowing those with no equity to seek payment relief and ultimately have more disposable cash. We'll see what turns out and I will of course get you all timely information.
http://www.cnbc.com/id/44269404