Connecticut S Tag

12 Nov Connecticut Takes Baby Step on SubPrime Mortgages

Connecticut 's Governor Rell announced the first product of her commission on the sub-prime mortgages. The commission recommended a special program for first-time homeowners with sub-prime mortgages. Under the program, low- and moderate-income consumers will receive special rates on a refinance of a sub-prime mortgage provided they are fully qualified. Foreclosure rates in the inner cities where most low and moderate income families live have increased 450% to 550% in the first half of 2007.
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