Senate Passes Mortgage Bill

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5-6-09 - Sorry the site was offline for a while today. The same person, Dan Taylor of destination360.com, filed another fraudulent complaint with Go Daddy over a photo that is not even on the website. He did so to destroy my Constitutional right to free speech as a favor to an affiliate, who dislikes what I write. This is the latest gimmick online to take down sites and web hosts need to be more vigilant.

Senate Passes Mortgage Bill

May 6. 2009

President Barack Obama

The U.S. Senate has passed legislation on mortgages, that hopefully will help and protect homeowners. There are millions of Americans suffering under the current Bush bred economic and mortgage crisis, threatening everything they've worked for and it's not right. Something should have been done sooner.

Senate Passes Legislation on Mortgage Lending

WASHINGTON -- Legislation to bolster the banking system and revamp federal mortgage programs passed the Senate Wednesday in a 91-to-5 vote. The measure, a key element of the Obama administration's plan to right the
housing market, passed the House but it had encountered stiff opposition from Senate Republicans and some moderate Democrats.

The banking industry said the legislation would allow them to boost lending and help more troubled borrowers without fear of lawsuits from mortgage investors.

"If this bill [passes into law], it has the potential to spur lending nationwide -- particularly in the community-banking sector," Independent Community Bankers of America President Camden R. Fine said.

http://online.wsj.com