More Details Expected Soon on Negative Equity Refis

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10 · 06 · 11

Testimony before a Senate committee Thursday indicated that it will likely be just a matter of weeks before details emerge about a refinance program for borrowers with loan-to-value ratios in excess of 100 percent.

Timothy Geithner, secretary of the Department of the Treasury, testified today before the Senate Finance Committee.

The secretary is also chairman of the Financial Stability Oversight Council, which seeks to prevent the kinds of systemic risks that caused the financial crisis and recession.

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