How Stimulus Package Would Help Homeowners

After signing the $787 billion economic stimulus bill in Denver, President Obama is scheduled to head to Phoenix Wednesday to unveil his housing plan. The president is expected to propose anywhere from $50 billion to $100 billion to help stem the tide of home foreclosures. One component of the plan would lower the average homeowner's mortgage payment, which can easily take up 38 percent of a family's income. The goal of the plan is to lower most homeowners' mortgages to 31 percent of their...Full Story
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