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But he said the subprime market woes represent only a small part of the economy and would not undermine what he said were sound fundamentals.
Bush said he will direct Treasury Secretary Henry Paulson and Housing Secretary Alphonso Jackson to work on an initiative to help troubled mortgage holders get services and products they need to keep them from defaulting on their loans.
@Anonymous wrote:
I don't think that is it fair for those who purchased homes that they could afford at the time but then do to some changes in their financial situations could no longer handle the payments or costs associated with owning the home and now find themselves in a declining economy with foreclosures on the rise and no way to sell their own homes because of a buyer's market. I didn't see those people on the list of those who would get help or not.