If you are facing foreclosure or are late on your mortgage payments there is help for you.
The Federal Reserve has created a program to help homeowners. The program promises to: reduce the amount owed on your mortgage loan, reduce the interest rate or lengthen the term of your loan.
The program will apply to mortgage assets that are currently held by the Federal government due to the bailout of Bear Stearns and AIG.
To qualify for the program a homeowner must be at least 60 days late on their mortgage payment.
For more information contact the Federal Reserve.
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