Merkley offers 'bold plan' to fix housing market

Portland Business Journal:

Saying the federal government hasn't done enough to help struggling homeowners, U.S. Sen. Jeff Merkley on Wednesday unveiled a "bold plan" to help underwater homeowners refinance at lower interest rates.

"Four years ago, the U.S. government acted quickly and boldly to rescue major financial institutions. However, we have not done not nearly enough for American families who are struggling with the downturn in the housing market,” Merkley, a Portland Democrat, said in a news release.

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