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Housing rescue: What you need to know

There are so many plans being floated to stem the subprime crisis and avert foreclosures, it's hard to keep track. A cheat sheet on the major proposals.

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Washington in crisis mode
Washington in crisis mode
Washington is awash in plans to attack the foreclosure crisis and mortgage meltdown. With both foreclosure rates and the election season heating up, politicians and policymakers are feeling pressure to find solutions to housing problems.

Some community advocacy groups charge that 2 million Americans could lose their homes to foreclosure over the next two years. That would not only have a huge impact on neighborhoods and towns but also damage the economy.

Most of the proposed fixes would lower monthly mortgage payments for at-risk borrowers without using any taxpayer money, but some of the plans would require significant government funding.

Here's a cheat sheet on the major proposals.

NEXT: Frank fix: FHA to the rescue
Last updated April 01 2008: 6:13 PM ET

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