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February 29th, 2008
Posted: 04:40 PM ET
NEW YORK (CNNMoney.com) — Senate Republicans this week thwarted efforts by their Democratic counterparts to vote on a housing stimulus bill that President Bush said would “bail out lenders and speculators.” But that doesn’t mean Congress is done trying. Democrats are likely to push ahead on legislation they argue would soften the problems caused by the growing number of foreclosures. The most controversial part of the bill would let bankruptcy judges reduce the amount of principal and interest due on some residential mortgages. Under current law, only mortgages for investment properties, vacation homes and farms may be written down for those in bankruptcy. –By CNNMoney.com’s Jeanne Sahadi |
 
Editor's note
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