Bush To Mortgage Holders: No Federal Bail Out
President George W. Bush today will announce steps the administration says will help people with subprime mortgages keep their homes.
Bush will let the Federal Housing Administration, which insures mortgages for low-and middle-income borrowers, guarantee loans for delinquent borrowers, allowing them to avoid foreclosure and refinance at more favorable rates, according to an administration official.



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AP | Deb Riechmann | August 31, 2007 02:15 AM