WEATHER IN LINCOLN COUNTY

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Sen. Merkley introduces bill to throw “underwater” homeowners a lifejacket

Courtesy photo

Senator Jeff Merkley has introduced legislation that would direct funds to homeowners who owe more on their house than it is now worth, due to the recession. Merkley’s approach is for the government to set up a trust fund that would allow homeowners to refinance their mortgages at today’s historic low rates, which, in turn, would direct more of their household income into efforts to rejuvenate the economy.

The details is in the Oregonian. Click here.

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