Wednesday, January 28, 2009

Fed Moves to Help Distressed Homeowners

With home foreclosures spiking, the Federal Reserve is taking steps to try to keep some distressed borrowers in their homes. Under the program, the Fed has a number of options to provide relief, including lowering the amount the homeowner owes on the mortgage, reducing the interest rate or lengthening the term of the loan.

read more | digg story

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