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Are Mortgage Modifications in the Obama Housing Plan?
Now that the ink has dried on the Obama Housing Stability Plan, people want to know what’s in it for them. In other words, people want to know will this bill help make my house payments any lower? So here goes: basically the Treasury Department will offer inducements and put pressure on lenders to reduce monthly payments for borrowers at risk of losing their houses which should result in five benefits for homeowners. They include:
