Bernardi seemed to be trying to appeal for a compromise between the republicans and democrats on the issue, as democrats want to do more to bail out homeowners and republicans are wary of awarding money in a way that they feel “benefits” irresponsible investors who lost money due to rising foreclosure and falling property values. This could be a valuable endorsement, as previous attempts by the house and senate to pass effective foreclosure bills have been watered down by the republicans, causing many to point to the bills as lame ducks.

The Bill moves forward to the Senate this week, where many expect it will again be passed.

HUD Secretary Bernardi Calls for Compromise on Foreclosure Bill is a post from: News of Foreclosures - Read more about how does foreclosure work.