July 28th, 2008
Senators are working overtime this week to push through a massive housing bill. The new bill is a democratic proposal with broad republican support. The proposed housing bill will offer some relief to homeowners facing foreclosure across the country.
The bill includes up to $300 Billion in government guaranteed loans to allow homeowners facing foreclosure to refinance on more affordable mortgages.
The bill also gives the government new authority to help the two mortgage giants firms Fannie Mae and Freddie Mac.
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Written by Alex Rolim.
