Real Estate News Blog Washington July Archive

Keep On the Lookout for Housing Help

07/30/08 12:10

The Housing Bill before the U.S. Congress isn't just for those facing foreclosure. There are many benefits for even homeowners with not financial troubles at all. Some of the benefits to look out for are: A tax credit for first-time home buyers; additional deduction for standard deduction takers on their tax forms; people who get reverse mortgages (elderly home owners generally) will have the costly fees limited to 2 or 1 percent of the mortgage and raises the limit that can be borrowed. Veterans get help by delaying forclosure proceedings from 90 days to nine months.

News: Your Money - Housing Bill Has Something for Nearly Everyone - NYTimes.com

Hope Now - Congressional Testimony

If you are looking for help fighting foreclosure, you could do a lot worse by not seeking out Hope Now, an organization devoted to bringing counselors, mortgage brokers, investors, and others together. All this to aid distressed homeowners navigate the terrible waters of financial doubt and forclosure. There are a number of service goals set out by the group such as sending loan status notices, loss mitigation notes, offering solutions and reporting the results of their endeavors.

News: HOPE NOW Executive Director Testifies Before Congress - MarketWatch

Come Elections - lets ease your burden

The housing mortgage situation is bad in the US and government is worried about providing some relief to the citizens. Of course with elections around the corner the government certainly needs to do somewhat more than normal and hence a mortgage rescue was passed with overwhelming majority in the senate. Whatever the reasons for making this rule, it will certainly help people who are struggling with their mortgage payments at least to some degree

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