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About the housing bill in Congress (Miami Herald) The housing bill Congress is preparing to send President Bush would: Give the Federal Housing Administration $300 billion in new lending authority and relax standards to provide affordable, fixed-rate mortgages to debt-ridden homeowners. Any losses would be covered by an affordable-housing fund financed by Fannie Mae and Freddie Mac, the government-sponsored companies that finance mortgages.
Housing bill won't solve market's problems (AP via Yahoo! News) Cash-strapped homebuyers and borrowers facing foreclosure will get some relief from a housing bill passed by the House on Wednesday but the bill won't solve the deep-rooted ills of the U.S. housing market.
GETTING A PERSONAL FINANCE CHECKUP (The Monterey County Herald) DALLAS — The midpoint of the year is always a good time to evaluate whether you're on track to meet your financial goals. With the U.S. economy being assaulted on multiple fronts, it is even more vital to run a fine-tooth comb through your financial practices and projections.