President Bush Says He Thinks Foreclosure-Rescue bill will Pass

[flip_it_fast]

Bush said Tuesday that he thinks he can reach a deal with congress to pass the proposed Housing Foreclosure Rescue Bill if the law makers show a little less "politics".

Many homeowners are counting on this bill to pass so that they may be able to keep their homes. The senate is looking at a $300 billion dollar plan to back loans that are cheaper for those who are at risk of losing their homes.
The bill is currently at a stand still.

"I think we can get us a bill," Bush said. "But it's going to require less politics and more focus."

Senate leaders hope to get back to the bill soon after their weeklong break. The legislation has been snagged over an unrelated dispute about tax breaks and renewable energy.

CNN Money

I just love knowing that our government can take weeklong vacations throughout the year while many many families in our country are in the midst of a major crisis and that we actually pay these people.
I hope they do something for these people, I cannot imagine how they must feel to be on the verge of losing their homes. Some people may say that they should have been wiser when going into these deals and that it is their own faults. I have seen many contracts and know just how confusing they can be and misleading. There have been many many reports lately of lenders purposely misleading folks, making them think their deal was affordable to them when they knew all along it wasn't.

President Bush Says He Thinks Foreclosure-Rescue bill will Pass

[flippinout]

I hope it does pass so that these people can be helped.

I also think that the companies that have mislead borrowers into doing something they knew wouldnt work, and then the borrowers lost their homes, these people should be jailed, the company they worked for sold and the profits from the sale split up between the people that lost their homes because of the lenders dishonesty.

Can you imagine the emotional turmoil this has caused. There will be marriages that fail because of all of this. And to give the dishonest lenders a slap on the wrist would be so wrong.