House Approves Housing Rescue Bill
Save Email Print
Bookmark and Share
Posted: 3:09 PM Jul 23, 2008
House Approves Housing Rescue Bill
The 272-152 vote on Wednesday reflected a congressional push to send election-year help to struggling borrowers and to reassure jittery financial markets about the health of two pillars of the mortgage market.
Reporter: Associated Press
width:179 and height: 132 and picwidth: 179 and pciheight: 132
** FILE ** In this May 9, 2008 file photo. a foreclosure sign stands outside a home in Denver.
Font Size:

The House has passed legislation that aims to help 400,000 strapped homeowners who are facing foreclosure and prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing.

The 272-152 vote on Wednesday reflected a congressional push to send election-year help to struggling borrowers and to reassure jittery financial markets about the health of two pillars of the mortgage market.

The measure is on track to pass the Senate and become law within days. President Bush dropped his opposition earlier in the day.

The White House swallowed its distaste for $3.9 billion in grants the bill would provide for devastated neighborhoods.

KKTV.com Features

KKTV and our Partners are proud to make Moms life easier…click here for more information

Click here for more information from our local health care specialists.

Do you have a story idea? Want to report breaking news? Call our newsroom at (719) 578-0000 or e-mail News@kktv.com.

Click Here to have KKTV come to your school!

Watch full episodes of your favorite CBS shows right here on KKTV.com.
Latest Blogs
  • EAT IT: Almonds - (Stacia Naquin)
    Keep your energy up when things get crazy. All you have to do is keep this super food handy at your desk.
  • Beware of Crooks Using Best Buy's Name (Betty Sexton)
    Crooks just sent a message to an 11News smartphone. It claims we've been selected for a $1,000 shopping spree. It's all a bunch of baloney!
  • Make a quick $250, hardly! (Betty Sexton)
    Thanks to Christine for telling me about this scam. She received a check in the mail from a group using the name American Consumer Opinion. It wasn't the legitimate Texas research company... just a crook looking to rip her off!
  • Treat It Like Thanksgiving - (Stacia Naquin)
    You don't have to sit on the sidelines at that Super Bowl party just because you vowed to make 2012 a healthier year. Here's some advice to keep yourself on track, after indulging during the season's biggest game!
  • "Be Prepared" is Good Motto for Storm Coverage
    Over in the KKTV 11 Weather Center, the radar's showing the snow moving in. Chief Meteorologist Brian Bledsoe says this storm has the potential to bring the most snow we've seen in 5 and 1/2 years, so it is "all hands on deck" and "batten down the hatches", as the newsroom makes its own preparations for this Groundhog Day Storm.