Bill would Create Hurricane Recovery Corp.

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00018648-bill-would-create-hurricane-recovery-corp/

Legislation introduced on Thursday in the U.S. House of Representatives would help financial institutions and property owners avoid massive defaults on home and business loans in New Orleans and other parts of Louisiana devastated by Hurricanes Katrina and Rita.

Rep. Richard Baker, a Louisiana Republican who is a senior member of the House Financial Services Committee, said his bill would create a Louisiana Recovery Corporation that would take over destroyed properties at the request of owners and pay off lenders.

For this complete story, please visit Bill would Create Hurricane Recovery Corp.

Bill would Create Hurricane Recovery Corp.

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