Zero-down mortgage initiative by Bush is hit
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President Bush's weekend campaign promise that he will push legislation allowing for no money down on some federally insured mortgages could cost taxpayers as much as $500 million over four years because of a higher rate of defaults, according to the Congressional Budget Office.
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The number of mortgage approvals fell to a record low during December, industry figures show.
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A number of spending initiatives promoted by President Bush as he seeks re-election are set to get less money than he wants from the Republicans who control Congress.
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President George W. Bush&#39;s administration Wednesday beat off the latest bid by Democrats to derail its Iraq strategy, as the Senate blocked a bid to limit numbers of troops ready for deployment.
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The Bush administration and six large mortgage lenders unveiled a plan yesterday to offer some homeowners facing foreclosure 30-day reprieves to work out alternatives.
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The Clinton administration, it seems, might not have handled the mortgage crisis all that differently from its successors in the Bush administration.
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WASHINGTON  - President Bush on Friday signed intolaw a measure authorizing an $800 billion increase in thecredit limit of the United States, the White House said.
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Analysts said President Bushâs plan to aid troubled homeowners facing foreclosure fell short of the broad reforms needed to help people meet mortgage payments.
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The US housing downturn may damage investment funds linked to sub-prime lending, experts say.
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The number of new mortgages granted to home buyers fell to 62,000 in December, mortgage lenders say.
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U.S. President George W. Bush will outline reforms on Friday to help struggling subprime mortgage borrowers, and his central bank chief will deliver a speech which will be pored over for hints of a looming rate cut.
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Business & money: The number of new mortgage approvals fell to its lowest level in over two years in September.
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President George W. Bush on Friday tried to calm financial market turmoil from the credit crisis by announcing proposals intended to prevent homeowners from defaulting on risky mortgages.
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The Bush administration backed away Monday from a proposal that critics said would have forced many of the 2 million poor, elderly or disabled families who use government housing vouchers to foot more of the rent on their own or find substandard apartments.
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WASHINGTON -- The Bush administration is working to combat the country's severe housing crisis but there is no simple solution, Treasury Secretary Henry Paulson said Monday, adding that a correction in the housing market is "inevitable and necessary."
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President George W. Bush signed  student loan legislation on Thursday that slashes federal  subsidies to lenders such as Sallie Mae , Citigroup  , Bank of America  and many others.
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The bigger-than-expected write-down of its mortgage portfolio led to a quarterly loss of $859 million, the bank said.