House Committee Passes Aid for Foreclosed Properties
Saturday, May 10, 2008
The House Financial Services Committee pushed a $15 million package aimed at restoring homes in struggling and foreclosure-riddled neighborhoods on Wednesday, according to Bloomberg news.
The proposal passed and is moving towards a full House vote where Republican lawmakers are expected to challenge the proposal on the grounds that it does little for distressed borrowers and provides aid to lenders who already own many of the distressed properties in question.
The proposal passed and is moving towards a full House vote where Republican lawmakers are expected to challenge the proposal on the grounds that it does little for distressed borrowers and provides aid to lenders who already own many of the distressed properties in question.
