White House veto threat on home refinance bill (AP)
WASHINGTON – The White House is threatening to oppose a politico bill that would abolish an Obama brass information aimed at serving grouping refinance homes that are worth less than they paying for them.
The House Financial Services Committee approved the manoeuvre last hebdomad as Republicans said the information has not worked. The information started last assemblage and has so farther helped 63 so-called underwater homeowners modify their mortgages into more affordable, government-insured loans.
The White House budget duty says the information module help struggling homeowners.
The oppose threat could be the prototypal of several as House Republicans impact on bills terminating quaternary programs aimed at preventing foreclosures.
Nearly one in quaternary households with bag mortgages was underwater at the modify of 2010.
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