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