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Paulson to discuss White House mortgage proposal

Wed Dec 5, 2007 2:43pm EST

WASHINGTON, Dec 5 (Reuters) - U.S. Treasury Secretary Henry Paulson and Housing and Urban Development Secretary Alphonso Jackson will hold a news conference on Thursday to discuss a White House proposal that would help homeowners facing foreclosure, a Treasury Department official said on Wednesday.

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The news conference will be held at the Treasury Department on Thursday at 1:45 p.m. (1845 GMT). Members of the mortgage industry as well as mortgage investors and counselors also participate.

Also on Thursday, President George W. Bush is expected to offer a plan to freeze mortgage rates for five years for many U.S. homeowners facing increases in their monthly payments. (Reporting by Nancy Waitz, Editing by Chizu Nomiyama)

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