AP - Help is on the way for some debt-plagued homeowners. It just may not be fast enough or broad enough to keep many from losing their residences.

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The Bay State housing market suffered through its worst June in 17 years last month, with sales volume down 14.9 percent and median prices tumbling 8.6 percent to $329,000,…

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AFP - The US Senate on Saturday approved an elaborate housing rescue plan designed to help thousands of homeowners avert foreclosure and bolster mortgage finance giants that have struggled amid a volatile housing market.

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AP - The 72-13 roll call Saturday by which the Senate passed a bill that aims to help homeowners facing foreclosure and to prevent mortgage companies Fannie Mae and Freddie Mac from failing.

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LONDON (Reuters) - Approvals for home loans in June hit their lowest since records began and retail sales fell at their fastest pace in at least a quarter century as a housing market downturn threatens to derail the whole economy.

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AP - The housing bill that Congress passed Saturday and sent to President Bush would:

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The Congress approved a massive housing market rescue bill on Saturday, offering emergency financing to Fannie Mae and Freddie Mac, creating a new regulator for the mortgage titans and setting up a $300 billion fund to help troubled homeowners.

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Bloomberg - July 25 (Bloomberg) — In October 2003, Treasury Secretary
John Snow told Congress “we need to be on guard” against the
“perception” that the U.S. government stood behind the stocks
and bonds of Fannie Mae and Freddie Mac.

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