Paulson, HUD to Address Mortgages

Updated from 3:28 p.m. EST

Top Bush administration officials, including Treasury Secretary Henry Paulson, and members of the mortgage industry will brief reporters Thursday afternoon on the Bush administration's efforts to aid homeowners stay in their homes amid the ongoing housing downturn and credit crisis.

Paulson, Housing and Urban Development Secretary Alphonso Jackson, mortgage industry insiders, investors and counselors are expected to participate in the briefing, according to alert from the Treasury Department.

The Wall Street Journal, citing two people familiar with the matter, said President Bush would outline a proposal to freeze some adjustable rate mortgages for five years, while fast-tracking other homeowners to refinanced loans and allowing state and local governments to use more tax-exempt bond programs to fund refinancings. ...