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House passes broad housing rescue despite veto threat Fame it!
Posted on May 09 2008 5:59 AM by adeal

The House has passed a housing aid plan to provide $300 billion in refinanced mortgages for struggling homeowners. President Bush says he'll veto the bill. It passed 266-154 with support from 39 Republicans. The measure would let debt-ridden homeowners refinance into fixed-rate, government-backed mortgages they could afford. Congressional analysts say it could help as many as 500,000 borrowers and cost $2.7 billion over the next five years.



Full story: ap.cjonline.com
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