Congress Planning More Help for Bad Mortgages

It's called the New Economic, Mortgage and Housing Rescue Proposal and would provide $300 billion to refinance borrowers who are in mortgage trouble. The proposal allows for a government agency that would negotiate with the lender to determine lower value of the house with a lower mortgage payment. The lender would receive government assistance. Keep track and view the details at: http://financialservices.house.gov/FHA.html