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California Senator pushes mortgage rescue program for unemployed
Senator Alan Cranston proposes a new federal FHA division to back private loans for unemployed or underemployed homeowners. Loans would be second liens repaid over at least 10 years and capped by income and past salary, aiming to prevent foreclosures, especially among engineers and tech workers in defense and space regions.
MENTIONED IN THIS ARTICLE
Washington
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Federal Housing Administration
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John Sparkman
D-Ala
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