A primer about the subprime mortgage (Daily Record)
Story date: 2007-12-09 01:19:58
Added on: 2007-12-09 05:31:09
WASHINGTON -- The Bush administration, banks, bond firms and mortgage servicers rolled out a proposal Thursday to help people in higher-cost adjustable-rate subprime mortgages more quickly and easily refinance or modify their loans -- including freezing interest rates at the initial teaser rate for five years.
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