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Wednesday, July 30, 2008
Bush signs landmark housing bill
The Atlanta Journal-Constitution
President Bush has signed a landmark housing bill designed to help tens of thousands of homeowners avoid foreclosure, boost consumer confidence and shore up ailing Fannie Mae and Freddie Mac
The Housing and Economic Recovery Act of 2008 is among the most sweeping housing legislation ever, according to the AP. Among its key elements, the law will offer a temporary first-time home buyer tax credit and help revitalize the Federal Housing Administration. Critics had said the legislation would reward unqualified borrowers.
Do you think the law will help the housing and financial markets? Or will reward unqualified borrowers? Does more need to be done?
