From Housing Wire
''Sen. Jeff Merkley, D-Ore., submitted a new plan Tuesday for the government to buy up to 8 million underwater mortgages and refinance them into lower rates.
"There is no robust program that enables large numbers of families trapped in high- interest loans across America to refinance," Merkley writes in a paper detailing the plan. "The lack of such a program hurts our families, our communities, and our economy. That is unacceptable, especially because such a program is entirely feasible."
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