Devoted to interest rates, loans, and lending institutions

Recently, the House passed a housing relief bill that President Bush vowed to veto. A Senate version represents something of a compromise between the two sides. Indeed, reports the FHA Mortgage Guide, there might be some additional factors spurring the Republicans to get on board with a housing relief bill:

However, with the loss of a “safe” Republican seat in Mississippi coupled with a new report from RealtyTrac.com showing still-another massive increase in foreclosure levels when compared with a year ago, bi-partisan support for a housing relief bill grew significantly during the past few days.

Now a committee consisiting of House and Senate members will be needed to adjust the housing relief bill so that it matches in both houses of Congress. President Bush is expressing cautious optimism toward this bill, rather than threatening an outright veto. 

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