WASHINGTON (MarketWatch) -- House lawmakers approved a sweeping bill to aid homeowners and prop up Fannie Mae and Freddie Mac on Wednesday in an ambitious move to defuse the housing crisis. By a vote of 272 to 152, the House passed a plan to authorize unlimited credit to Fannie and Freddie, allow the government to insure up to $300 billion in refinanced mortgages and extend a tax break of as much as $7,500 to first-time home buyers. The Senate is expected to act on the bill later this week and President Bush is expected to sign it after dropping a threat to veto it over a $4 billion program allowing local governments to buy foreclosed homes. ...
Anytime
