Second Lien Plan

edited April 2009 in Housing Bubble
"Borrowers can receive success payments of up to $250 per year for as many as five years. These payments will be applied to pay down principal on the first mortgage, helping build the borrower's equity in the home."

http://www.cnbc.com/id/30478076

Why not just have the government pay off everyone's mortgage? Seems like that would be less than what we're already spending.
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