Help Is on the Way? Obama Outlines Mortgage Plan

President Obama today pledged to help up to 9 million homeowners facing foreclosure or struggling to make their mortgage payments. Obama's plan, unveiled in a suburb of the mortgage-strapped city of Phoenix, specifically targets two groups of homeowners who have been hurt by the mortgage crisis. First, some 4 million to 5 million families who have seen their home values drop, but are not at risk of foreclosure, would now be able to refinance into new mortgages. The other group, 3 million...Full Story
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