This is the link for a WSJ article on the refinance program being announced today. You have to be current with your mortgage payments and your mortgage can not be more that 125% of the value of the house. That might be a tough nut to crack for many home owners. There are communities right here in beautiful Massachusetts where the value of homes has decline as much as 50% since 1995. So, getting some of the people out of hot water may be difficult. This may not do a lot to help the housing mess.
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