Tony Elias posts a CNN article outlining the launch of the Obama Administration's foreclosure prevention program : The multi-pronged fix calls for companies to help as many as 4 million struggling borrowers by modifying loans so housing payments are no more than 31 percent of monthly gross income. Separately, homeowners who haven't missed a payment can refinance into lower-cost loans even if they have little or no equity. This is expected to help up to 5 million homeowners. While borrowers
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Friday, March 13, 2009
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