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Let's say you owe 300,000. loan to value of 105% is 285,000. most of these homes are 40, 50% under water. in addition, let's say, gretchen, you had a fixed interest only loan for 30 years, for 20 years, whatever it may be assuming you're even eligible for harp, which is not going to be easy to qualify, your payment is going to go up. why? because it's refinanced on a principle and interest payment, which is going to up your payment as opposed to make it lower. >> gretchen: so at the beginning i said will this be a good idea, will it help people or is it a political ploy and bob massi says? >> ...

>> gretchen: 42 minutes after the top of the hour. first google was accused of bypassing privacy settings. now microsoft says google is breaching privacy controls on internet explorer. but microsoft says the privacy settings on the newest version of internet explorer cannot be bypassed. and small town in new hampshire on the verge of buying an armored military truck? the town accepting the $285,000 grant from the u.s. department of homeland security for an eight ton armored personnel carrier. some folks are outraged, saying the town has no need for that tank. >> steve: let's hope they never ...

Schoolteacher and a paralegal allegedly went on a cross-country outlaw adventure. >> definitely a case for the recordbooks. >> reporter: the roommates are accused of stealing nearly $300,000. for a wild weekend in new york city. >> a second grade teacher. a paralegal forged this -- very sizable check and go out on a spree and, just, just having a great time. so, first time i have seen that. >> reporter: police say the women stole a $20,000 check from a newport beach law firm, changed the amount to $285,000, and deposited it into a joint bank account. >> one of the suspects deposited this nearl...

down 9 1/2%. so what happens next? and is your money safe? these are the questions for legal ber and ali velshi. i'll start with you with the usual entreaty. what is going on, ali? >> the french economy, actually no growth in the quarter. global economies are slowing down. we're dangerously close to a recession. we may need more intervention from the european bank and more from the fed. you've been talking about this piers, that rick perry said we can't have more intervention. if the fed intervened it would be treasonous. what's that setup? we have no political agreement in this coun...

with the usual. what is going on, ali? >> look, we started off the day this morning with a rough night in asia. european markets on news that, you know, the german economy, the strongest in europe has weakened to almost a stall, the french economy, absolutely no growth in the quarter. that took u.s. markets downright off the top. but before that, more than 12 hours ago, we got a report from morgan stanley to say what we've all been saying, global economies are slowing down, that they were on the -- we're dangerously close to a recession, we may need more intervention in europe from t...