Buy custom Why The Bailout Plan Has To Be Passed And Its Adjustments
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| Topic: |
Business
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| Number of pages / Number of words: |
6 / 1609 |
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Property holders who cannot meet their current mortgage terms will be able to modify their loans into more affordable fixed-rate loans. Also, homeowners who are up to date on payments but will have troubles with big spikes in interest rates can freeze interest rates in the introductory level or stretch out the time period to 30 or 40 years...
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The organizations who will promote these modifications are the Treasury Department, Federal Reserve, Federal Deposit Insurance Corp., and the Federal Housing Agency, who now controls Fannie Mae and Freddie Mac.
The biggest roadblocks in changing terms on loans are the investors who hold the securities created from those mortgages...
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General points of the essay
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