Gov't to unveil plan to shrink some home loans
(AP) - The Obama administration will announce Fridaya plan to reduce the amount some troubled borrowers owe on theirhome loans, two people briefed on the matter said. The two people declined to be identified because the program hadnot yet been announced. Details could not immediately be learned.But earlier in the day, Herbert Allison, an assistant Treasurysecretary, told reporters officials are close to expanding theadministration's $75 billion foreclosure relief effort. The administration is also expected Friday to announce aid forhomeowners who have lost their jobs. The White House scheduled a briefing for reporters on housingpolicy at 10 a.m. Friday.