President signs housing legislation
President Bush signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and to stabilize financial markets.
Without any fanfare or a signing ceremony, Bush affixed his signature to the measure he once threatened to veto.
The measure, regarded as the most significant housing legislation in decades, lets homeowners who cannot afford their payments refinance into more affordable government-backed loans rather than lose their homes. It also offers a temporary financial lifeline to troubled mortgage companies Fannie Mae and Freddie Mac.
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox three times per week.
You may occasionally receive promotional content from the Los Angeles Times.
