Bush offers help for mortgage holders

President Bush offers help to keep people with risky mortgages from losing their homes. That's what the markets needed to hear, said TheStreet.com. Subprime mortgages aren't all bad, said The Chicago Tribune.

President Bush today is announcing several measures to help Americans with risky mortgages avoid losing their homes in foreclosure. One key step will be to make it easier for borrowers with spotty credit to sign up for mortgage insurance through the Federal Housing Administration.

This was just what the volatile stock market needed to hear, said Robert Holmes on TheStreet.com. Getting more people to refinance with FHA insurance will surely reduce the severity of the coming wave of foreclosures. Now if only Federal Reserve Chairman Ben Bernanke could find it in his heart to lower interest rates.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us