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3.4 Million Homeowners Skip Payments. But Many Are Scared, Say Congress Needs To Act

Homeowners say that to catch up on payments, lenders demand big balloon payments they can't afford. Advocates want Congress to mandate that missed payments simply be added to the end of the loan term.

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NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered, and Weekend Edition. He joined NPR in 1996 and was based in San Francisco before moving to Boston in 2001.