The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Skywatcher who wrote (123596)	5/16/2008 6:45:48 PM
From: Jim McMannis	Read Replies (2) of 306849

Senate Short of Agreement on Housing Rescue washingtonpost.com Senate negotiators broke off talks last night without striking a deal to rescue hundreds of thousands of homeowners at risk of foreclosure, but they said they were close to an agreement. Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.) and Sen. Richard C. Shelby (Ala.), the panel's senior Republican, said they plan to meet again Tuesday to discuss the proposal to help troubled borrowers trade exotic mortgages with escalating monthly payments for more affordable loans backed by the federal government. "This is like keeping frogs in a wheelbarrow: When you get one thing done, something else can jump out," Dodd told reporters a few hours before calling the talks to a close for the night. But, he added, "I'm pretty optimistic."

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