What are some of the details of the Mortgage relief plan?
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M$3 Answers
-"$2 billion in competitive grants to communities experimenting with innovative ways to prevent foreclosures"
-"lenders will be required to cut payments to no more than 31 percent of a borrower's income"
-Removing restrictions that prevent institutions from "refinancing mortgages they own or have guaranteed when more is owed on a home than it is worth"
-Keeping "mortgage rates low for millions of middle-class families seeking new mortgages"
I'm sure there will be much more to come
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M$
www.recovery.org
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M$You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
