Will Congress Pass Homeowner Bill?

With national housing prices down more than 15% from a year ago, and foreclosures now at 8000 a day, Congress is trying to rush through legislation that would rescue hundreds of thousands of property owners about to lose their homes, and change the mortgage structure to allow more affordable fixed rate loans. The bill is far from perfect. It would make the increased limit of Freddie Mac and Fannie Mae loan amounts permanent in expensive housing markets such as ours, but that limit would then be $625,000...not the $729,750 limit we have now. There is also the threat of a presidential veto hanging over whatever package they should pass.