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Home / Law / Obama pledges $275 billion to stem foreclosures

Obama pledges $275 billion to stem foreclosures

U.S. President Barack Obama pledged $275 billion to a program that includes cutting mortgage payments for as many as 9 million struggling homeowners and expanding the role of Fannie Mae and Freddie Mac in curbing foreclosures. The plan will help as many as 5 million homeowners refinance loans owned or guaranteed by Fannie and Freddie, the ...

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