30 April 2009
WASHINGTON -- An anti-predatory mortgage bill is moving forward in Washington following approval on Wednesday by a key House committee. Looking to ban dangerous practices, the Mortgage Reform and Anti-Predatory Lending Act aims to ensure that borrowers avoid overly costly mortgages, can pay back their creditors and receive better disclosures. The House Financial Services Committee voted 49-21 to approve the legislation, and the full House of Representatives could take up the bill next week.
Source: foxbusiness.com
