Bush Drops Housing Bill Opposition

hosted.ap.org — President Bush dropped his opposition to legislation aiming to calm the chaotic housing market despite his objections to a $3.9 billion provision for neighborhoods hit hardest by the housing crisis. The House was expected to vote on the bill, and it could become law as early as this week. Under the bill, the government would help struggling homeowners get new, cheaper loans and would be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion.

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