The news from the federal government is good. It means that more people will qualify for help. But, understand that not everyone will be helped by this plan. First, you have to be 90 days behind. Second, you have to have no more than 10 percent equity. Third, you have to be living in the house. A lot of people have already moved out thinking that they cannot afford their homes. That means you may not qualify.
The news from the California government: more inaction. But, do not expect that to change anytime soon.
However, even if you do not qualify under this new federal program, you may still be able to get a modification. There are a lot of other programs out there for people. Banks are willing to negotiate and make deals to help you stay in your home. You should talk to an attorney about your options before you give up hope.