Reactions to story from The Washington Post

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  Help for Homeowners?

  http://blog.annapoliscondos.com/2008/07/help-for-homeowners....
  147 days ago in blog.AnnapolisCondos.com · No authority yet

  The U.S. House and Senate continue work on legislation intended to help distressed homeowners - details from the WashingtonPost.com: · Thinking about buying a first home. The legislation offers federal tax credits up to $8,000 per couple -- $4,000 per individual -- for qualified purchasers of newly constructed or resale houses. There's no cap on the total number of buyers to be assisted, plus the definition of "first-time buyer" is more generous than a literal reading would suggest. This provision alone could provide significant stimulus and bring thousands of people back into the real estate market. · Saddled with a debt-laden home heading for foreclosure. The pending legislation may offer a way out for you -- provided that your lender agrees to participate. Even if you're behind on payments and your mortgage balance exceeds your property's value, you could end up with a new, affordable fixed-rate loan backed by the Federal Housing Administration. · Searching for a home in a high-cost market. The new housing bill is certain to provide higher limits than the $417,000 cutoff for Fannie Mae and Freddie Mac that prevailed before the economic stimulus package's temporary increase of up to $729,500, which is set to expire at the end of this year.
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  Help for Homeowners Hangs in the Balance

  http://realestate.reviewnews.org/2008/07/04/help-for-homeown...
  151 days ago in Real Estate News Review · Authority: 8

  Congress left town for the July 4 recess with a half-baked cake in its legislative oven — one that has huge potential significance for the housing and mortgage markets. The relief package left unfinished is designed to help hundreds of thousands of homeowners heading for foreclosure, pull buyers back into the real estate market, and permanently raise conventional and FHA loan limits in high-cost markets. Read more
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  Help for Homeowners Hangs in the Balance (Washington Post)

  http://californiahomeloan360.com/node/12767
  151 days ago in California Home Loan 360 · Authority: 4

  Help for Homeowners Hangs in the Balance (Washington Post) Posted July 4th, 2008 by California Home Loan Congress left town for the July 4 recess with a half-baked cake in its legislative oven -- one that has huge potential significance for the housing and mortgage markets. The relief package left unfinished is designed to help hundreds of thousands of homeowners heading for foreclosure, pull buyers... Read more

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