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VOL. 127 | NO. 62 | Thursday, March 29, 2012
Regions Bank Sets $1B Goal for Homeowner Relief
AP
BIRMINGHAM, Ala. (AP) – Regions Bank said Wednesday that it has set a goal of providing $1 billion in relief to homeowners this year under a federal program.
Homeowners with loans owned by Fannie Mae and Freddie Mac, the government-sponsored mortgage companies, may be eligible for refinancing their home loans or having fees reduced or eliminated.
The Obama administration's refinancing program, the Home Affordable Refinance Program, accounts for more than 20 percent of refinancing nationwide. It was established in 2009, after the financial crisis.
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