Bush Administration to help 240,000 homeowners keep homes
by (FHA) Federal Housing Administration
President George W. Bush announced on 8/31/07 that HUD's Federal Housing Administration (FHA) will help an estimated 240,000 families avoid foreclosure by enhancing its refinancing program effective immediately. Under the new FHASecure plan, FHA will allow families with strong credit histories who had been making timely mortgage payments before their loans reset--but are now in default--to qualify for refinancing.
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