Lending a helping hand to home owners - KLTV.com - Tyler, Longview, Jacksonville |ETX News

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Lending a helping hand to home owners

   The government and the mortgage industry have unveiled a sweeping effort to help homeowners renegotiate delinquent loans that were held by Fannie Mae and Freddie Mac.

   Borrowers who are at least three months behind on their home loans, and who owe 90 percent or more of what their home is worth, would qualify. The plan reduces the interest rates so borrowers won't have to pay more than 38 percent of their income on housing bills.

 

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