New Jersey Creating Rescue Fund For Homeowners Stuck With Subprime Loans

In New Jersey, the state Department of Community Affairs and the state Housing and Mortgage Finance Agency are developing a new refinancing program to help some New Jersey homeowners facing trouble after financing their homes with subprime mortgages, according to NorthJersey.com. The state is in the process of working out the program details, and officials say that the program, to be called "Rescue," could be up and running as early as July 1. For more, see Plan could rescue troubled homeowners.
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