    [Public Papers of the Presidents of the United States: George W. Bush (2007, Book II)]
    [October 4, 2007]
    [Pages 1278-1279]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on House of Representatives Passage of Mortgage Forgiveness
    Debt Relief Legislation
    October 4, 2007

        In August, I proposed a comprehensive plan to help homeowners avoid
    foreclosures and stay in their homes. As part of this plan, I pledged to
    work with Congress in a bipartisan way to temporarily reform a provision
    of the Federal Tax Code to make it easier for homeowners to refinance
    their mortgages during this time of market stress. Today a bipartisan
    majority of the House of Representatives passed legislation to help
    people stay in their homes and move this process forward. I applaud the
    House's efforts. I urge the Senate to swiftly consider this legislation
    and make it temporary.

    Note: The statement referred to H.R. 3648.

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