Washington —- The Senate voted resoundingly Thursday to advance a massive mortgage rescue to help hundreds of thousands of stressed homeowners, even as the bill faced fresh obstacles in the House.

By a vote of 84-12, the Senate cleared away the last procedural hurdle hindering the measure, putting the election-year aid package on track for approval by week's end.

An objection from one of the Senate's most conservative Republicans will likely delay passage until today. Sen. Jim DeMint (R-S.C.), who regards the measure as a bailout for unscrupulous lenders, was the holdout.

Beyond the Senate, however, the measure is far from complete, with House leaders planning to rewrite key portions and the White House still threatening a veto.

The centerpiece of the plan would let the Federal Housing Administration back up to $300 billion in new loans to provide struggling homeowners with more affordable, fixed-rate mortgages. It allows lenders that agree to take a substantial loss on the mortgages to reclaim at least some money and avoid a foreclosure.

"Unless we act and do so promptly, we're going to look at a situation that only gets worse," said Sen. Christopher J. Dodd (D-Conn.), the Banking Committee chairman and an architect of the bill.

Passing it, Dodd added, would dispel "a growing fear in the country ... that we're incapable of doing much here. We can't seem to get much done."

The measure includes a long-sought modernization of the FHA and would create a new regulator and tighter controls on Fannie Mae and Freddie Mac, the government-sponsored mortgage giants. It also would provide $14.5 billion in housing tax breaks, including a credit of up to $8,000 for first-time home buyers.