Bush offers help to troubled homeowners

August 30 2007 CNNMoney.com The President offers aid to subprime borrowers through government programs and new legislation. President Bush outlined his plan Friday for helping troubled subprime borrowers keep their homes. The initiatives target hundreds of thousands of distressed homeowners. Speaking in the Rose Garden, the president, after highlighting some of the recent stronger economic trends, pointed out the weaknesses in the mortgage market as an area of concern, particularly in the subprime sector. Although he labeled the problem "modest in the overall scheme of things," he said, "It's anything but modest if you're one of the families affected.

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