Lawmakers Unveil First Of Three Mortgage Crisis Bills

Law360, New York (March 12, 2008, 12:00 AM EDT) -- A new bill aimed at protecting mortgage lenders that take steps to rework their loans is part of a three-part package the U.S. House of Representatives plans to introduce in response to the housing crisis.

Rep. Barney Frank (D-Mass.), chair of the House Committee on Financial Services, said on Tuesday that the two remaining bills will provide states with about $10 billion to buy up homes that have already been foreclosed and create a program to refinance some homeowners into affordable loans, Dow Jones News reported....
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