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Friday, Apr 19, 2024

Senate ready to help stem tide of foreclosures

WASHINGTON — Under pressure to help Main Street after the government saved a Wall Street firm from bankruptcy, senators ended weeks of partisan stalemate Tuesday and agreed to try to quickly pass legislation that could help some homeowners avoid foreclosure. Party leaders asked the top Democrat and Republican on the Banking Committee to draw up a compromise bill that could be brought before the Senate as soon as today. “The time has come for us to legislate, not continue our bickering,” Senate Majority Leader Harry Reid (D-Nev.) said at a joint appearance with Minority Leader Mitch McConnell (R-Ky.) — an event so rare that Reid insisted it was not an April Fool’s joke. For the full story visit http://www.latimes.com/business/la-fi-mortgage2apr02,1,4227705.story

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