Tuesday, July 8, 2008

Mortgage rescue bill closer to passage

"A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support Monday, inching toward passage despite Republican objections.

The Senate voted 76-10 to advance the bill, a broad array of housing measures including overhauls of the Federal Housing Administration, the Depression-era mortgage insurer, and government-sponsored home loan giants Fannie Mae and Freddie Mac."

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Mortgage rescue bill closer to passage

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