WASHINGTON (AP) - Some help for troubled borrowers could be coming from the government as soon as tomorrow.
Sources say officials are planning to unveil a plan that would guarantee around $500 billion in loans.
They say about $50 billion could come from the financial industry bailout, for loan modifications that would lower interest rates for a 5-year period.
The program would be run by the Federal Deposit Insurance Corporation, and could guarantee around 3 million loans.
Details are still being finalized.
Source:http://www.kmph.com/Global/story.asp