Help struggling homeowners by requiring banks to modify mortgages to current rates upon request.

Many homeowners struggle to keep up with their mortgages due to reduced income or job loss. Previous modification schemes helped very few people and whether you got it or not was up to the banks. To help homeowners stay in their homes, avoid foreclosures and put extra spending money in homeowners' pockets to benefit the economy as a whole, financial institutions would be required to modify a homeowner's mortgage interest rate to current market rates upon request. This should be available to any homeowner regardless of income and credit score. All that that would be required is that the homeowner be current on their payments and that the homeowner request the modification in writing. Interest rate reduction would be required to begin within 60 days of any such request.