A new article in the AP quotes President Bush as saying he thinks a compromise will be reached on the pending housing legislation that he can live with. Not many people believed there was much bite to his veto threats but this is still good news for struggling home owners. Here is an excerpt from the article:
NORTH LITTLE ROCK, Ark. – President Bush expressed confidence Tuesday he will reach a deal with Congress on a housing-rescue plan, but only if lawmakers show “less politics.”
The president’s comments came as many homeowners are saddled with mortgage payments they can’t afford and face foreclosure. The Senate is considering a $300 billion plan to back cheaper loans for people who risk losing their home, but that measure has stalled for now.
“I think we can get us a bill,” Bush said. “But it’s going to require less politics and more focus on keeping our minds on who we need to help, and that’s the homeowner.”