Mortgage Aid Plan Advances, an article from the Wall Street Journal Online, reports that U.S. Senate lawmakers voted yesterday to limit debate on the package that includes tax relief for homeowners, a program to refinance up to $300 billion in mortgages for cash-strapped borrowers and changes to the Federal Housing Administration intended to ease the agency's ability to serve homeowners.  The package combines a number of different housing-related measures, including reforms to the FHA, nearly $4 billion in block grants for local governments to deal with blight and other effects of foreclosures, and a regulatory overhaul of Fannie Mae, Freddie Mac, and the 12 Federal Home Loan Banks.  Foreclosure-prevention and housing-related efforts include $150 million in additional funding for housing counseling, $10 billion in additional mortgage revenue bonds, and a housing trust fund to be funded by Fannie Mae and Freddie Mac.
http://online.wsj.com/article/SB121432240154500147.html?mod=RealEstateMain_1

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