Last month, congressed passed the “Housing and Economic Recovery Act of 2008.” Also known as The Housing Bill or The Housing Stimulus Package." The bill is an attempt to accomplish several different agendas. The two main agendas attempting to be accomplished are: 1) Reform lending practices. 2) jump-start the real estate market. That is the long and short of it.
Overall this bill should help the market to trend in a positive direction. Some markets are already seeing some improvement. There are several great tax credits for home buyers that will surely help so many people. There are also some other great opportunities that this bill offers. Here is the link to the highlights of the “Housing and Economic Recovery Act of 2008.”
http://www.Realtor.org/gapublic.nsf/pages/hr_3221_key_provisions?OpenDocument
I encourage you to check it out and see if any of these provisions will help you. It is my goal, in the very near future to have a local lender make a submission to this blog, explaining more about this bill and other pertinent lending topics. Stay tuned.
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