> The federal government would lend each participant 20% of that > individual's current mortgage, with a 15-year payback period and an > adjustable interest rate based on what the government pays on two-year > Treasury debt (now just 1.6%). The loan proceeds would immediately > reduce the borrower's primary mortgage, cutting interest and principal > payments by 20%. Participation in the program would be voluntary and > participants could prepay the government loan at any time.
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