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House Approves Bill Ending Mortgage Assistance Program


The House on Thursday passed legislation that would end the Federal Housing Administration’s home mortgage assistance program.

In a 256-171 vote, the House approved the legislation after a contentious debate in which Democrats said the Republicans are shutting off much-needed aid to struggling homeowners.

Eighteen Democrats supported the bill. Only one Republican, Rep. Joe Heck (R-Nev.), voted against the measure. He said he was doing so because of the continuing mortgage problems facing his constituents.

With House passage, the bill goes to the Senate, which is not expected to take up the bill at all. The White House this week said it would veto the bill if it were presented for signing, and would veto a bill up in the House on Friday that would end the emergency mortgage relief program in last year’s Wall Street reform law.

Republicans argued that terminating the program would save $8.1 billion, none of which has been spent so far.

READ MORE: THE HILL



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