Bush Signs Housing Bill To Provide Mortgage Relief
Save Email Print
Bookmark and Share
Updated: 8:16 AM Jul 30, 2008
Bush Signs Housing Bill To Provide Mortgage Relief
President Bush has signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets.
Posted: 6:55 AM Jul 30, 2008
Reporter: Associated Press
Email Address: news@kktv.com
width:200 and height: 150 and picwidth: 200 and pciheight: 150
Font Size:

President Bush has signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets.

A White House spokesman said Bush signed the measure Wednesday to "improve confidence and stability in markets and to provide better oversight of Fannie Mae and Freddie Mac."

The measure, regarded as the most significant housing legislation in decades, lets homeowners who cannot afford their payments refinance into more affordable government-backed loans rather than losing their homes.

It offers a temporary financial lifeline to troubled mortgage companies Fannie Mae and Freddie Mac and tightens controls over the two government-sponsored businesses.

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.