Thursday, Oct 16, 2008 at 5:07 PM (Public Entry)

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Requires Treasury to implement a plan to maximize assistance for troubled mortgage borrowers while considering the net present value of such help to the taxpayer. This could include use of the FHA rescue program in which borrowers would be refinanced into FHA loans. Treasury also may use loan guarantees and credit enhancement to facilitate loan modifications. (Sec. 109)

Effective Date: Kicks in as soon as Treasury starts buying troubled assets.

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