Landmark housing legislation was signed into law in July by President Bush aimed at ending the current cyclical downturn in the housing industry. The legislation is designed to help home buyers and strapped borrowers while strengthening the housing finance system, according to the National Association of Home Builders. "This milestone bill contains several provisions to get home buyers back into the marketplace, stop the slide in home prices, provide a lifeline to borrowers facing foreclosure, improve mortgage liquidity and bolster confidence in Fannie Mae and Freddie Mac," said Sandy Dunn, NAHB president. "We commend Congress and the President for taking this action to provide much-needed relief to the American people."
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