$15 Billion Housing Bill Seeks House Approval

This week, Democrats pushed a $15 billion housing bill through a House committee, despite outcry of Republicans against it. This bill aims at sending federal loans and grants to cities and counties that have suffered the most from the housing crisis, so that they could purchase and renovate foreclosed properties. While Democrats view the bill as a positive move toward providing relief to the neediest areas, Republicans see it as a giveaway for lenders and speculators that could lead to an even greater number of foreclosures.

For more on this story, please visit:
http://money.cnn.com/2008/04/23/news/economy/housing_bill.ap/index.htm?section=money_realestate