The House OKd a bill to save a mortgage program.
The House unanimously approved a bill to avert a cutoff of the Veterans Administration home loan guarantee program, correcting what lawmakers said was an inadvertent effect of the new deficit-reduction law. The program of government guarantees for veterans’ mortgages would have been shut down about April 1 because the new law imposed an $11.5-billion ceiling, the VA said. The House bill, which must still be approved by the Senate, would raise the ceiling to $18.2 billion.
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