U.S. House of Representatives passed a bill to save the housing market

 (Washington, Syndicated news) - U.S. House of Representatives passed a crisis in the real estate market to reverse a major bill, bill will help 400,000 home buyers unable to pay mortgages, and to promote the two mortgage finance institutions Fannie mm mm Mae and Freddie Mac bail out.
U.S. House of Representatives by 272 votes to 23, 152 votes against the adoption of the bill sent to the Senate bill with a vote expected this week, the earliest signed into law by President George W. Bush. < br> In a few hours before the House vote, the White House issued a statement expressing the U.S. view of the urgent need for the bill to deal with real estate and credit crisis, Bush will sign registration bill. White House spokeswoman Dana Perino said: No time for a decisive battle. that it will not veto legislation, investors have bought Fannie Mae (Fannie Mae) and Freddie (Freddie Mac) of stocks and bonds.
House of Representatives passed bill, the White House immediately issued a statement saying the U.S. housing bill markets, financial systems and macroeconomic stability are essential. Treasury Secretary Henry Paulson also noted that the bill to send a strong signal to investors to help the U.S. housing market out of the crisis.
housing bill to help 40 million slaves
The bill will help 400,000 in deep sub-prime crisis, tax.
under the Act, the Treasury will be able to provide adequate credit to the two organizations, and funding necessary to buy their shares. The two institutions hold or guarantee mortgages totaling approximately 53,000 billion, accounting for U.S. mortgage nearly half of the total.
In addition, the bill also proposed the establishment of new institutions to strengthen supervision of mortgage companies. bill proposes that the Government, to the heavy debt for a total of 3.9 billion community lending, to help those who unbearable pressure on the Americans to re-combination of repayment of debt and fixed interest rates, government loans to pay back the principal remaining.
Wachovia Securities (Wachovia Securities), senior economic analyst at Thayer believes that the House passed the bill has a positive effect .
He said: a. Republican lawmakers will face resistance.