Plan Freezes 'Teaser' Rates of Subprime Loans

  • Playlist
  • Download
  • Embed
    <iframe src="" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

President Bush's plan to slow the rate of foreclosures in the United States should bring relief to hundreds of thousands of homeowners who took out adjustable mortgage rates and are at risk of losing their homes. The government struck a deal with the mortgage industry to freeze "teaser" rates of sub-prime loans for five years.

U.S. Rep. Brad Miller (D-NC), sponsor of the Mortgage Reform and Anti-Predatory Lending Act, talks with Robert Siegel.



Please keep your community civil. All comments must follow the Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

NPR thanks our sponsors

Become an NPR sponsor

Support comes from