Mortgage help: Do you qualify?

President Obama's new real estate rescue plan offers two key benefits: More refinancing opportunities and greater chance for a loan modification.

NEW YORK (CNNMoney.com) -- Details on President Obama's eagerly anticipated foreclosure prevention program were released on Wednesday. It targets 9 million borrowers for help - are you one of them?

The $75 billion effort, dubbed the Homeowner Affordability and Stability Plan, boils down to two basic solutions:

First, the government is aiming to help more homeowners refinance into new low interest rates.

Second, it provides incentives to lenders and servicers to restructure your mortgage to more affordable levels.

Here's how to know whether you'll likely be able to take advantage of either of these options.