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Aid For Returning Veterans In Housing Rescue Bill

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Jul 26, 2008 12:57 pm US/Central

Aid For Returning Veterans In Housing Rescue Bill

MINNEAPOLIS (AP) ― The housing rescue bill Congress passed Saturday includes a provision by Sen. Norm Coleman that would give returning veterans more time to work out mortgage problems upon their return.
  
The provision would give returning veterans nine months to work out their mortgage problems -- up from three months.
  
The Minnesota Republican initially wanted the limit to be one year, then settled for half that in a compromise with Republicans. The final limit was set at nine months when the bipartisan legislation was finalized.
  
The Senate approved the overall bill, the Foreclosure Prevention Act, by a 72-13 vote during a rare weekend session Saturday.
  
President Bush is expected to sign the measure quickly.


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