“Administration officials and many housing experts contend that a large number of people who took out expensive subprime mortgages, which can carry interest rates above 10 percent, may have credit good enough to qualify for more traditional loans.”

The only way to help them is to keep their teaser rates and switch that to a 30 years fix. Will this happen? Everything above the teaser rates will kill them anyway because they bought houses that were already overpriced and unaffordable to them.