Attention ALL Home Buyers…This Pertains to You!
Posted by by Monmouth County-Monroe Twp News and Real Estate Information on February 11th, 2009
Current legislative activities in Washington surrounding the Economic Stimulus Bill. This is a critical “front burner” issue, with the bill likely to be finalized this week. So, it is critical that, if you haven’t contacted your legislators yet, you do so as soon as possible.
The House version includes a 7,500 dollar tax credit for new home buyers, but the Senate version has a 10% tax credit with a ceiling of 15,000 dollars, for all home buyers. At this time, neither version has incorporated a provision for promoting lower mortgage interest rates. The Senate is expected to vote today and after that a conference committee will work out the differences between the two versions.
Through the Treasury Department and legislation, there are other proposals for streamlining short sales and preventing foreclosures. Also, there are efforts to keep the increased conventional loan limits that were temporarily in place during 2008. All these Housing Stimulus provisions would have a beneficial impact on our current market.
The National Association of Realtors® is working to have these proposals and others incorporated into the final Stimulus Bill. RE/MAX International has been working closely with NAR and supports all their efforts. NAR has made it easy for you to contact your legislators with pre-written letters and the contact information for all U.S. Senators and Representatives. Please visit their web site to make your voice heard. http://takeaction.realtoractioncenter.com/campaign/2009stimulus
Any Questions….Contact Daniel Bozza of RE/MAX Central
Cell: 732-251-7757 or email at danielbozza@comcast.net