What you need to know about the Freeze that the President came up with:

*The agreement will allow distressed borrowers who are current on their sub-prime loan payments to keep their low introductory rates

*The rate freeze will apply to loans taken out between January 1, 2005, and July 30, 2007, and scheduled to rise in 2008 and 2009

*The rate freeze will exclude the following groups:
Borrowers who are delinquent on payments
Borrowers whose introductory rates expire before January 1, 2008
Borrowers who mortgage companies determine have sufficient income to pay the higher rates