White House Won't Confirm Homeowner Bailout
The White House acknowledged today that the Bush administration is looking at more options for helping distressed U.S. homeowners but said the government is not close to agreement on any specific plan.
White House press secretary Dana Perino said that "we're in the middle of analyzing several different proposals" but declined to comment on a report in The Post today that the government is close to guaranteeing mortgages of millions of homeowners.
"We’re doing a lot of analysis on a number of different ideas," Perinos said, but "we’re not in a position right now of announcing anything imminent."
The Post reported today that negotiators for the Treasury and Federal Deposit Insurance Corp. are nearing agreement on a massive mortgage assistance plan that could cover up to $600 billion worth of loans.
The plan would be a significant departure for the federal rescue program, which has so far directed relief exclusively to banks and other financial institutions.
-- Dan Eggen
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