Barack Obama yesterday unveiled a plan to help up to 9m US households avoid foreclosure as another round of grim data showed the housing downturn worsening.
Vowing to restore faith in the “American dream”, the president outlined government proposals for $75bn in subsidies to encourage lenders to reduce mortgage rates for 3m-4m borrowers at risk of losing their homes.
A further 4m-5m mortgages would be refinanced by Fannie Mae and Freddie Mac, the government-backed mortgage lenders, which stand to receive up to $200bn in fresh federal capital under the plan.
您已閱讀39%（561字），剩余61%（884字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。