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Frank Says Democrats Will Likely Include FHA Bill in Stimulus

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moh malekpour

Thread Starter
Elite Member
May 25, 2002
Professional Status
Certified Residential Appraiser
Frank, the chairman of the House Financial Services Committee, said today in a telephone interview it's ``very likely'' legislation to overhaul the Federal Housing Administration will be part of the $140 billion to $150 billion plan for jumpstarting the U.S. economy amid increasing signs of a recession. The measure would help homeowners refinance mortgages to keep from losing their homes, Frank said.

``You would not ordinarily think of a bill to restructure the operations of the Federal Housing Administration as stimulative, but in this case it is because we're talking about foreclosure avoidance,'' said Frank, a Massachusetts Democrat.
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