Another program, called FHA Secure, helps credit-worthy borrowers refinance so-called subprime mortgages that have a low introductory interest rate but later re-set at higher rates.
Issuers are scrambling to refinance into proper long-term bonds, or asking banks for letters of credit.
发行商也正在想办法通过再融资进入真正的长期债券市场,或者向银行申请开立信用证。
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That justified relaxed lending standards. Homeowners with weak credit histories could refinance loans on more favorable terms in two or three years because the value of their houses would have risen.