Not everyone will benefit from mortgate freeze...

As this article from CNN points out, not everyone will benefit from the planned mortgage rate freeze, Subprime freeze plan: Who's left out. In fact, some of those most hurt by the subprime lending saga will not benefit from the rates being held at all according to some of the experts:

In announcing the Administration's plan, which includes a five-year freeze on interest rate hikes for some subprime borrowers with adjustable-rate mortgages (ARMs), the White House estimated it would offer relief to 1.2 million families out of the 1.8 million facing higher interest rates. The initiative comes at a time of record high foreclosure rates.

But there are very strict limitations.

Sharon Reuss, a spokeswoman for the Center for responsible Lending, estimated it would help 7 percent of those stuck with unaffordable subprime loans, or 145,000 borrowers.

"This is so limited in scope," she said.