If President Barack Obama gets his way, consumers who take out mortgages would automatically get a "plain vanilla" loan — such as a traditional 30-year fixed-rate mortgage — unless they opted for a riskier variety.

President Obama will announce of Wednesday his plan for helping, he may even have the nerve to call it fixing, the housing market. While no one is sure what form it will take when he announces the plan in Mesa, Arizona, many in the media are speculating on it.