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4/16/2009

Obama's Mortgage Rescue Plan Finally In Effect


The United States Treasury Department announced that the Obama Administration's Mortgage Rescue Plan, designed to help homeowners by modifying their existing mortgage loans, is finally underway.

Six major servicers have already signed up for the plan, with many more to come.

The plan will have a number of positive economic effects for consumers, including preventing foreclosures, reducing mortgage costs and further stifling predatory lending attempts.