Published: Nov 01, 2011 4:46 PM EDT
Updated: Nov 01, 2011 5:42 PM EDT

FORT MYERS, Fla.- It  looks like the housing market won't be getting better anytime soon. A financial analytics company says home values are expected to fall another three-point-six percent by next June. The President has a  new plan to help underwater homeowners refinance their mortgages. Here today for what this means for you is WINK's Real Estate expert Denny Grimes from Denny Grimes & Co. at Royal Shell Real Estate.

The program’s requirements are as follows:  It only pertains to loans serviced by Fannie Mae or Freddie Mac

The loan must have been originated prior to May 31, 2009

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Your last 6 payments must have been on time

Your first mortgage must not exceed 125% of the current market value of the home.