Relief Nears for 3 Million Strapped Homeowners

[hausdok]

By MICHAEL R. CRITTENDEN and JESSICA HOLZER, The Wall Street Journal

WASHINGTON -- The U.S. government's latest plan to aid struggling homeowners could move as many as three million people into more-affordable mortgages, according to people familiar with the effort.

The proposal, which has been designed by the Treasury Department and Federal Deposit Insurance Corp., is close to being finalized. Estimated to cost between $40 billion and $50 billion, the plan would have the government agree to share a portion of any losses on a modified mortgage offered by lenders.

To read more of this Wall Street Journal article click here.