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House Dems Win $15 Billion Home Foreclosure Bill

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Apr 23, 2008 4:41 pm US/Central

House Dems Win $15 Billion Home Foreclosure Bill

WASHINGTON (AP) ―

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Senate Leaders Act To Ease Housing Crisis
(4/2/2008)
Foreclosure Relief Bill Clears First Senate Hurdle
(4/1/2008)
Bush Addresses Mortgage Mess
(3/27/2008)
Bush To Visit N.J. To Highlight Foreclosure Mess
(3/28/2008)
Home Sales Post Unexpected Jump As Prices Tumble
(3/24/2008)
Tougher Rules Urged For Mortgage Lenders
(3/14/2008)
The Role Of Race In The Mortgage Mess
(3/10/2008)
Foreclosures Hit All-Time High In 4Q Of 2007
(3/6/2008)
Bernanke: Foreclosures, Late Payments Will Rise
(3/4/2008)

House Democrats have won committee approval of a $15 billion housing bill to let states and cities buy and fix up foreclosed properties.

The measure passed the Financial Services panel Wednesday 38 to 26, mostly along party lines. Democrats say it will prevent blight in neighborhoods hit hardest by the recent wave of foreclosures.

The Bush administration and Republicans view it as a bailout for lenders and speculators that could lead to even more foreclosures.

The bill is part of Democrats' broader housing overhaul plan whose centerpiece would let hundreds of thousands of struggling homeowners refinance into more affordable, government-insured loans. That measure is expected to get a committee vote next week.