Items of Interest:
Paul Jackson / Housing Wire:
Senate Committee Takes Up Housing Debate -- The Senate Banking Committee is set to tackle proposed housing legislation on Thursday, and a key Democratic lawmaker said this morning that a deal with Republicans was nearing fruition. Committee Chairman Christopher Dodd (D-CT) told the press Thursday morning that a deal was “very close” during an interview on Fox Business Network; last second negotiations involving GOP leaders shuttled a scheduled committee markup on the Senate’s housing package from 10am EST to 11:30EST.
Dodd has been working hard to gain the support of key Republicans for a tentative housing relief package, postponing earlier committee markups in the face of stiff GOP opposition.
The House of Representatives last week passed its own sweeping version of housing relief as part of a revised Foreclosure Prevention Act. House Financial Services Committee Chairman Barney Frank (D-MA), who originally pushed for the proposed legislation, has said he wants to authorize the Federal Housing Administration to insure up to $300 billion in refinanced mortgages for troubled borrowers, when the investor agrees to take a haircut on a portion of the outstanding debt...
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- Who Will Be the Next Homebuilder to File Chapter 11?? - Seeking Alpha
- Collateral Damage for Condo Owners - Christine Haughney, NY Times
- Recovery From Worst Housing Slump Since 1930s Comes With Angel - Bloomberg