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December 7-9, 2007
Mortgage Rate Freeze
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There may be some relief in sight for some California homeowners struggling to make mortgage payments. The federal government
and mortgage lenders announced a plan this week to freeze interest rates for five years on certain sub-prime loans that face
a rate hike. Each week, 12,000 Californians receive foreclosure notices and critics say the plan doesn't go far enough. Guest
host Oanh Ha talked about the proposal with State Assemblyman Ted Lieu and Laura Pephens, a member of the board of directors
for the California Mortgage Bankers Association.
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