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Washington Home Finance News

The Chairman of the Senate Banking Committee, Senator Christopher Dodd announced that Republicans and Democrats have reached an agreement in principle to present Treasury the authority to enact its proposed $700 billion home financing rescue plan.

"We have also agreed on the creation of an oversight body and home foreclosure aid," Dodd said.

Senate and House members from both parties were unified on Capitol Hill, displaying their bi-partisan support for the financial bail-out agreement.

"Taxpayers are getting help in this, it should send a positive signal to markets," Dodd said.

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