Treasury Secretary Henry Paulson says an agreement is near on efforts to freeze mortgage rates for strapped sub-primers facing higher mortgage payments. Here's a summary of an upcoming story in tomorrow's Business section in the Daily Breeze:
By The Associated Press
HOME STRETCH: Paulson Monday said officials were near an agreement to help at-risk homeowners avoid foreclosures.
TIMEFRAME: The proposed plan would temporarily freeze their mortgage rates, but how long rates would remain frozen is still unresolved.
NEGOTIATIONS: Federal regulators have been trying to strike a deal with some of the country’s biggest banks, mortgage investors and consumer groups.
Leave a comment