Democrat Plan to Refinance Home Loans With US Help
Barney Frank (D. Mass) is planning a push to increase the federal government's role in stabilizing the housing market. The chairman of the House Financial Services Committee, is floating an initiative that aims to refinance as many as one million "distressed" homeowners out of high-cost loans using government assistance. The proposal, which could cost as much as $15 billion over five years, would likely involve the federal government buying loans and then helping move borrowers into mortgages backed by
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