UPDATE 2-Senate foreclosure bill draws W.House veto threat
Forbes - The legislation to let bankruptcy judges erase mortgage debt and provide billions of dollars to rehabilitate abandoned properties had been expected to be taken up Tuesday by the Democratic-led Senate, but got pushed back for at least a few days for …
Sen. Reid to defy Bush on foreclosure rescue plan (Reuters via Yahoo! News)
U.S. Senate Majority Leader Harry Reid said on Wednesday he planned to defy a threatened White House veto and try to win passage of a bill to curb rising home foreclosures by changing bankruptcy law.
US regulators free Fannie Mae to buy up mortgages (Independent)
United States regulators have ripped up longstanding restrictions on the government-sponsored mortgage companies Fannie Mae and Freddie Mac, freeing them to buy significantly more mortgages and pot-entially to reinvigorate the secondary market for mortgage debt.
Reid urges Bush to work with Dems on housing bill (Reuters via Yahoo! News)
U.S. Senate Majority Leader Harry Reid urged President George W. Bush on Wednesday to reject a veto threat by his advisers and work with Democrats to pass a bill to curb rising home foreclosures by changing bankruptcy law.