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The latest figures from the mortgage industry tell the grim story: nearly a million homeowners at risk of losing their homes in the latest quarter for failing to keep up their monthly payments. Now, for some, help may be on the way. President George W. Bush unveiled a plan at the White House aimed at slowing a tidal wave of home loan foreclosures that has rattled investors and threatens to knock the U.S. economy into recession. SOUNDBITE: US President George W. Bush, saying (English): "The holidays are fast approaching and unfortunately this will be a time of anxiety for Americans worried about their mortgages and their homes. There's no perfect solution and the homeowners deserve our help" The plan hammered out by the U.S. Treasury Department in talks with mortgage industry leaders would bring relief to many of the 2 million homeowners who took out adjustable rate loans with low teaser rates. Rates on many of those loans have reset sharply higher, making them impossible for middle income homeowners to afford. The initiative is designed to temporarily hold rates steady for subprime borrowers - those with less than perfect credit -- who could otherwise not afford to stay in their homes. Jared Bernstein of the Economic Policy Institute SOUNDBITE: Jared Bernstein of the Economic Policy Institute , saying (English): "It will make an important difference in the number of lives in a small amount of people who would probably avoid foreclosures because of this plan." The White House said the new plan could potentially help about 1.2 million homeowners. Even for those not in danger of foreclosure, but worried about their home equity, there was more bad news Thursday. Moody's rating service said national US home prices will not hit bottom until early 2009, by which time they will have fallen 12% from their highs. Deborah Lutterbeck, Reuters