Coleman supports mortgage plan

Republican U.S. Sen. Norm Coleman says he's pleased with an agreement the Bush administration negotiated with mortgage lenders to freeze interest rates on at-risk subprime mortgages.

"This is an important step. It's a helpful step. It will help some folks. But we will continue to feel the impacts of this collapse, of this crisis for awhile to come," says Coleman.

Coleman is sponsoring legislation allowing homeowners who are facing foreclosure to tap into their retirement accounts.

In addition, he says certain tax changes and federal reforms are also needed.