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12/16/07
Senate mortgage assistance aims to head off rate spikes
Filed under: General, Mortgages
Posted by: Lillian Wong @ 12:13 pm

WASHINGTON - Legislation to help borrowers get federal backing on home loans comes at a key time. An estimated 2 million to 2.5 million adjustable-rate mortgages are scheduled to reset in the next year, jumping to much steeper rates that could cost borrowers their homes. The wave could crest during the presidential and congressional election campaigns next year, and politicians have been wrestling with what the government’s response should be.  More…

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