Obama to unveil homeowner rescue plan today

Obama will unveil the much awaited homeowner's rescue program today in Phoenix. The plan will try to stem the wave of foreclosures expected to top three million in 2009 if significant action is not taken. But the big question is, who should get the help?

Two competing groups of homeowners want help. About three million homeowners have already fallen behind on their mortgage payments. Many of them are in way over their heads and bought homes they could not afford using interest only loans or loans with teaser rates.

The second group (involving about 10 million homeowners and growing) include homeowners who are underwater -- owing more on their mortgage than the home's market value. This number goes up every month as home prices continue to drop.