Press Release: Some relief in sight

By
Real Estate Agent with Long & Foster Realtors

Yesterday was a busy day in our nation's capital. The Senate overwhelmingly passed a housing bill that will offer up to $300 billion in loans for troubled homeowners and establish a government rescue plan for Fannie Mae and Freddie Mac.

In an effort to offset the rising rate of foreclosures, The Housing and Economic Recovery Act of 2008 was passed by the House of Representatives. This bill would avail up to a $7,500 tax credit for first time home buyers through June 2009. Hopefully the Senate will quickly act upon this bill and President Bush will pass it into law to further stimulate the stagnating housing market.

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Location:
West Virginia Berkeley County Martinsburg
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Comments 7 New Comment

Rainmaker
316,770
Kathy Torline
Colorado Springs Real Estate Blog 719-287-1049
ERA Herman Group Real Estate

Debbie:  It will be interesting to see what type of effect this will have on the market.  I wonder how they will qualify first time home buyers?  As an example, if a husband owned a house before; and a wife has never owned a home; are they considered first time home buyers when they buy together?  You know these type of questions will come up.

www.kathytorline.com

July 28, 2008 11:28 AM
Rainer
39,624
Debbie Small
REALTOR
Long & Foster Realtors

Trunda - I guess we'll see, but the more I read on this bill the less effective it sounds.

James - If you mean the outside blog offered through AR...yes.

Kathy - I'm sure there will be many questions.

July 28, 2008 09:36 PM
Rainer
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Debbie, fingers crossed, the economy could use all the help it can get.

August 01, 2008 10:01 AM
Rainer
39,624
Debbie Small
REALTOR
Long & Foster Realtors

Duane - I would like to think so but after listening to this, not feeling real upbeat.

August 01, 2008 10:57 PM
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November 22, 2011 01:59 PM
Rainer
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Debbie Small

REALTOR
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