Foreclosure Prevention Bill Gets Senate Nod

Law360, New York (April 10, 2008, 12:00 AM EDT) -- By an overwhelming margin, the U.S. Senate approved legislation Thursday to address the subprime loan crisis through measures including the creation of counseling services for borrowers facing foreclosure and a plan to help local communities buy foreclosed homes.

But even before the 84-12 vote, some senators, including Senate Majority Leader Harry Reid (D-Nev.), were saying the measure was just the beginning.

“The importance of our work to help our country weather this crisis cannot be overstated,” Reid said. “This week, the Washington Post reported that experts...
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