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Mortgage rate freeze plan for subprime relief
U S Treasury and lenders announce a plan to freeze the mortgage rates on about one third of 1.8 million rising subprime loans over five years to help avoid foreclosures. Qualifiers include owner-occupied homes, timely payments, low credit scores, and limited home equity. participate voluntarily. borrowers should contact lenders for details and possible refinances.
MENTIONED IN THIS ARTICLE
U.S. Treasury
Bush
Mortgage Bankers Association