House Passes FHA Refinance Program Termination Act

Thursday, 10th March, 2011, the House passed a measure, HR 830,  to terminate funding of the FHA Refinance Program which refinances mortgages for borrowers who owe more than the value of their home. The CBO estimates it will save $175 million.

The measure passed on a 256-171 vote, with all Republicans voting for it except Heck (NV-3). Democrats Altmire (PA-4), Barrow (GA-12), Boren (OK-2), Cardoza (CA-18) , Carney (DE-at large), Chandler (KY-6), Cooper (TN-5), Costa (CA-20), Cuellar (TX-28), Larsen (WA-2), Lipinski (IL-3), Matheson (UT-2), Owens (NY-23), Peterson (MN-7), Ross (AR-4), Schrader (OR-5), Shuler (NC-11), and Walz (MN-1) joined in support of the bill,

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