Deal paves way for Freddie, Fannie rescue

 House and Senate leaders have almost finished working out a deal to bail out mortgage giants Fannie Mae and Freddie Mac by insuring up to $300 billion in refinanced mortgages. The House of Representatives could vote today on the bill. A temporary measure to bolster Fannie and Freddie could cost the government as much as $25 billion, the nonpartisan Congrsesional Budget Office said Tuesday. Lawmakers are planning to include a $4 billion housing program that would allow local governments to buy and rehabilitate foreclosed properties. President Bush said today that he no longer opposed the plan, which would also help struggling homeowners refinance.