Mortgage Guide

President Obama recently announced that his housing initiative was ready to expand to include second mortgage modifications. The Administration believes that ensuring a homeowners ability to stay in their home is critical to stabilizing the housing market. Once thats achieved, the logic is that the overall financial system will recover in turn. Join Thomas Fox, Cambridge Credit Counselings Community Outreach Director, as he discusses the changes to the Making Home Affordable program.

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Scott Pelley reports on the mortgage crisis that’s far from over, with a second wave of expected defaults on the way that could deepen the bottom of the US recession.

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