House Introduces HR 861 to Terminate the Neighborhood Stabilization Program

The House of Representatives has approved legislation to end a bailout program for lenders and real estate speculators. The legislation, HR 861, the the NSP Termination Act, introduced by Rep. Gary Miller, ends the so-called Neighborhood Stabilization Program (NSP). This is the third bill approved by the House in the last two weeks that ends a failed program. Each of the three bills was first approved by the House Financial Services Committee.Click to continue