Is a Big Deal on Homeowner Mortgage Relief on the Horizon?

The New York Times reports that "[a]bout one million homeowners facing foreclosure could have their mortgage burden cut by about $20,000 each as part of a long-awaited deal taking shape among state attorneys general, federal officials and the nation’s largest mortgage servicers." President Obama hoped to have a deal he could announce in tonight's State of the Union address, but the Times says that is looking unlikely. We'll see.