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2 new federal programs to help borrowers pay their mortgages
The New York Times: The Obama administration plans to take two new steps in the next few weeks to help struggling homeowners pay their mortgages, said Shaun Donovan, the secretary of Housing and Urban Development.
The administration will begin a Federal Housing Administration refinancing effort to help borrowers who are struggling to pay their home mortgages, and will start an emergency homeowners loan program for unemployed borrowers so they can stay in their homes, Mr. Donovan said on "State of the Union" on CNN.
