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Edwards proposes lower rates to halt foreclosures

Wed Dec 5, 2007 4:28pm EST
 
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WASHINGTON (Reuters) - Democratic Presidential candidate John Edwards on Wednesday said homeowners facing foreclosure should have the right to lowered rates or restructured loans from their lenders.

Edwards also said that any rate freeze on adjustable-rate mortgages, such as the Bush administration is considering, should last at least seven years.

(Reporting by Andy Sullivan, Editing by Chizu Nomiyama)

 

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