McALLEN — The federal government may help bail out thousands of area residents who have subprime interest rate mortgages. Bush said the federal government will expand its refinancing program for subprime borrowers with good credit.

Bush to propose aid to mortgage holders (Los Angeles Times)
The plan includes a tax break and letting FHA insure more loans. President Bush today plans to outline a number of proposals to stem the tide of mortgage defaults and help people hold on to their homes, a senior administration official said Thursday.