http://en.wikipedia.org/wiki/Housing_and_Economic_Recovery_Act_of_2008 The Housing and Economic Recovery Act of 2008 ( Pub.L. 110-289 , H.R. 3221 ) designed primarily to address the Subprime mortgage crisis , was passed by the United States Congress on July 24 , 2008 and signed by President George W. Bush on July 30 , 2008 . It authorizes the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if... read more
