Well, a couple of weeks ago you may recall I mentioned that a new piece of legislation was wending its way through Congress. This was Barney Frank's bill to vastly expand the funds for foreclosure counseling, freeze high rate loans at a lower fixed rate, and reopen the bankruptcy laws for certyain specifically limited mortgage-related situations/individuals.
It has since passed the full House by a healthy margin, although not enogugh to be veto-proof. It has yet to clear the Senate, although indications are that it will do so, probablybefore the Congress recesswes for its summer vacation. Bush has loudly proclaimed he will veto it as "too unreasonable and too expensive". From this corner,it looks like exactly what the country could use in terms of relief, but to make it so someone has to convince a larger number of Congressmen/women and Senators to vote for it, enough to insure a veto-proof majority of 2/3 of each house of Congress. Let your congressional representatives and Senators know how you feel--and remind them that November is not that far off!
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