Refinancing lifeline fails to reach most 'underwater' homeowners

Posted on November 13, 2009
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A seven-month-old government program to help homeowners with little or no equity refinance their mortgages has so far reached fewer than 3 percent of those targeted, with many struggling borrowers deciding that the benefits of a new loan aren’t worth the closing costs.

Source: Refinancing lifeline fails to reach most 'underwater' homeowners

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