"What's going on in these four states is, first of all, they tend to have very high levels of adjustable-rate mortgages, " says Doug Duncan, chief economist for the association.
Under the first phase of Ohio's program, borrowers will meet certain income guidelines will be able to ditch their adjustable rate mortgages or other high interest rate loans and get into a 6.75 percent fixed rate mortgage.
But they also have higher-end designs, many in a Mary Jane style that is adjustable yet attractive, and several have chunky but high-enough heels, in metallic or pearlized leather.