The President of the United States and some of the top lending institutions in our country are announcing a new program to try to deal with the continued housing slump. This new program will help homeowners that are on the brink of losing their homes. Qualified homeowners facing foreclosure will be able to put the foreclosure process on hold for 30 days. This program will be available to homeowners with all types of mortgages, not just high-cost subprime loans. Hopefully, this initiative will do more than just pause the process. As details emerge, I will keep you posted.
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