CBO: Housing Bailout Will Send 140,000 Into Second Foreclosure

tpmcafe.talkingpointsmemo.com — The Congressional Budget Office projects that 35 percent of the homeowners "helped" under housing bailout plan working its way through Congress, or 140,000 families, will find themselves again facing foreclosure. That's because the lenders get to decide which loans enter the program. Naturally, they will pick homeowners who they think will be the least likely to make it. Meanwhile, what will the supporters of this bill will tell those 140,000 families?

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