Saturday School

The US Senate has just passed H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act in a special Saturday Session of Congress

from Speaker of the House Nancy Pelosi:
The centerpiece of the bill will help significant numbers of hard-working American families in danger of losing their home refinance into lower-cost government -insured mortgages they can afford to repay – at no cost to the American taxpayer. It also:

• strengthens neighborhoods hardest hit by the foreclosure crisis by providing resources to allow cities and states to buy up and rehabilitate foreclosed properties that are currently driving down home prices, reducing state and local revenues, and destabilizing neighborhoods;
• expands homeownership opportunities for veterans and helps returning soldiers avoid foreclosure and stay in their home;
• provides tax breaks to spur home buying; and
• creates a new Fund to boost the nation’s stock of affordable rental housing in both rural and urban areas for low and very low-income individuals and families.

Votes In-favor - 72
Votes Against - 13

List of Senators Votes coming soon.