Mortgage bill faces tough road in Congress - 13 WTHR Indianapolis

Mortgage bill faces tough road in Congress

Posted: Updated:
WASHINGTON -

A sharply divided Congress isn't likely to jump at President Barack Obama's challenge for quick passage of a mortgage refinancing bill that supporters say could help millions of homeowners save thousands of dollars each year and boost the economy. 

During his State of the Union speech, the president praised a proposal to help more homeowners with mortgages backed by Fannie Mae and Freddie Mac take advantage of low interest rates and refinance their loans. 

The bill could gain backing in the Democratic-controlled Senate. But it faces a rough road in the GOP-run House, where many Republicans favor scaling back the government's role in the housing market to aid the economy. 

Similar versions of the measure died in the House and Senate's lame-duck sessions last year.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Powered by WorldNow
Links to the FCC website to view WTHR and/or WALV’s on-line public inspection files:
WTHR: https://stations.fcc.gov/station-profile/WTHR   ||   WALV: https://stations.fcc.gov/station-profile/WALV
Individuals with disabilities may contact Jill Pursell at publicfile@wthr.com, or 317.655.5602, for assistance with access to the public inspection files.
Powered by WorldNowAll content © Copyright 2000 - 2013 WorldNow and WTHR. For more information on this site, please read our Privacy Policy and Terms of Service.