|
March 31st, 2008
Posted: 06:20 PM ET
WASHINGTON (CNN) — Lawmakers have returned to Washington after a two-week break vowing to confront the deepening mortgage crisis. But despite the increasing pressure to find solutions to the problem, Senate leaders find themselves locked in a procedural stalemate over how to take up a stalled homeowner relief bill. Negotiations are expected to continue right up to a key vote planned Tuesday afternoon on the Democratic-authored bill, aides on both sides said. The bill would, for the first time, allow bankruptcy judges to reset mortgages on primary residences. It would also provide $4 billion for local communities to buy and refurbish foreclosed properties; provide $200 million for counseling to help homeowners avoid foreclosure; give tax breaks for the home building industry; and improve loan disclosure and transparency. Republicans are threatening to block the bill, as they did before the recess, unless Democrats give in to their demands to allow votes on certain GOP amendments. –From CNN Congressional Producer Ted Barrett |
 
Editor's note
The CNN Wire is a running log of the latest news from CNN World Headquarters, reported by CNN's correspondents and producers, and The CNN Wire editors. "Posted" times are Eastern Time.  New on the CNN Wire
 |
|
CNN Comment Policy: CNN encourages you to add a comment to this discussion. You may not post any unlawful, threatening, libelous, defamatory, obscene, pornographic or other material that would violate the law. Please note that CNN makes reasonable efforts to review all comments prior to posting and CNN may edit comments for clarity or to keep out questionable or off-topic material. All comments should be relevant to the post and remain respectful of other authors and commenters. By submitting your comment, you hereby give CNN the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying information via all forms of media now known or hereafter devised, worldwide, in perpetuity. CNN Privacy Statement.
|
|
del.icio.us
