House OKs Rescue for Homeowners, Freddie, Fannie

PlusHouse OKs Rescue for Homeowners, Freddie, FannieHouse OKs Rescue for Homeowners, Freddie, FannieThe Associated PressRescue legislation sailed through the House Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing. (July 23)Video: pix of foreclosed home Track: The bill throws a lifeline to hundreds of thousands of homeowners caught in the credit crunch: SOT: Manuel Berrios ''WE CAME IN HERE LOOKING FOR A LOWER PAYMENT B/C THE PAYMENT RIGHT NOW IS TOO HIGH. '' Video: pix of Fannie Mae and Freddie Mac Track: It also provides a financial safety net to mortgage giants Fannie Mae and Freddie Mac in hopes of restoring confidence in them: SOT: Congresswoman Maxine Waters, D-Calif. 12:19 p.m. This bill is about stabilizing this economy and we cannot afford to have the largest two semi-government agencies unprotected.(:11) Video: more pix of foreclosed homes Track: Helping the mortgage giants trumped the president's opposition to almost four billion dollars so communities can buy and fix up foreclosed properties. SOT: White House Press secretary Dana Perino: PERINO SOT: (4:00 approx from start of briefing) He thought it was wasteful, and that it would encourage lenders to foreclose on properties, rather than have them work with the homeowner to try to help them rework their loan and be able to stay in their house. (:12) Standup Bridge: TRACK: The administration's decision to drop its veto threat underscored a split within the GOP, with congressional Republicans blasting the measure as irresponsible--saying taxpayers deserve better: SOT: Congresswoman Michele Bachmann, R-Minn. 12:46 p.m. What will american taxpayer be getting in return for being put on hook for a deal they weren't part of Video: Homes for sale/// Track: Republicans are worried there's no dollar limit if a bailout of the mortgage giants is needed. The congressional budget office says it could cost taxpayers 25 billion dollars. Video: cover video of Paulson Track: Treasury Secretary Paulson says the bill will help turn the corner on the housing crisis. Video: picks of naca folks/dunno what we have from their event SOT: though a group working to help at risk homeowners has its doubts: SOT: DARREN HENDON NACA/COUNSELOR FROM LOS ANGELES 16:19:55 we want the gov't to be more proactive in supporting the solution rather than putting a bandaid over a bullet wound b/c Video: wide shot of senate??? Track: Senate action on the bill is expected by the weekend. Jb the ap capitol hill

YouTube | July 23, 2008