Senate Passes Foreclosure Prevention Act

[Bama Bayou]

The news outlets are reporting passage of the Senate Foreclosure Prevention Act. Does anyone know a link to the full text of this act as passed today?

 

[Roscoeman]

Here's a link.

http://www.house.gov/apps/list/press/financialsvcs_dem/press050808.shtml

 

[Bama Bayou]

Here's a link.

http://www.house.gov/apps/list/press/financialsvcs_dem/press050808.shtml

Thanks Roscoe, but that is the house bill that was passed a long time ago. I'm looking for the bill that passed the Senate today.

 

[Mike Boyd]

Thanks Roscoe, but that is the house bill that was passed a long time ago. I'm looking for the bill that passed the Senate today.

Per CNN @ 3 PM Pacific Time, it had not yet cleared the Senate.......but expected to. There have been some minor revisions.

 

[Couch Potato]

I don't know what new outlet you are receiving your information from, but the final bill has not passed the senate yet. You can get the full text at the Library of Congress site or GovTrack.us

 

[Joanne Rauenzahn]

http://www.dispatchpolitics.com/live/content/national_world/stories/2008/04/11/forec.html?sid=101

see if that helps!

The White House opposes the plan but has not issued an explicit veto threat. It says parts of the legislation would make the problem worse by depressing some home values, and that the measure inappropriately uses taxpayer money to bail out lenders saddled with foreclosed houses.

The House is likely to reject key portions of the Senate measure, including $25 billion over three years in tax breaks for money-losing businesses such as home builders. A plan adopted Wednesday by a key House panel dropped that idea as well as the tax credit for purchasers of foreclosed homes.

 

[Bama Bayou]

I don't know what new outlet you are receiving your information from, but the final bill has not passed the senate yet. You can get the full text at the Library of Congress site or GovTrack.us

I get my new from lots of places, including CNN. They are reporting it live on TV but not on their web site. It's all over the web, I just can't find the text of the entire bill.

Couch, you are on eastern time and should have got this an hour before I did. :laugh:

http://www.msnbc.msn.com/id/24050189/
http://www.washingtonpost.com/wp-dyn/content/story/2008/04/10/ST2008041004196.html
http://www.inman.com/news/2008/04/10/senate-passes-watered-down-foreclosure-prevention-act

 

[Mark to market]

This quote from msn must be a mistake
"The bill also offers $150 billion for pre-foreclosure counseling and stronger loan disclosure requirements"

 

[tjcou812]

I heard a final vote is not expected until Friday 07-11-08 but I may be wrong.

 

[Bama Bayou]

Thanks for the site info Couch, I found it on govtrack.us. Passed yesterday, now goes to conference with the house.

http://www.govtrack.us/congress/bill.xpd?bill=h110-3221