Every time I think things are not going right whether I have a bad day, week or what ever.. I always think about that Wilson Philips song I think it is titled "Hold on for one more day".
Well, to all of my home owners out there on the struggle just hang in there if you can. I believe it is going to get better. the Government is hearing out cries in numbers and, they have not much else choice but to help. Here is a recent report regarding the housing Stimulus Bill aimed to help many American homeowners.
Finalize Housing Stimulus Bill
WASHINGTON, July 14, 2008
The U.S. Senate has passed a bipartisan housing stimulus bill that “is a big step toward helping people buy and keep their homes,” said National Association of Realtors® President Dick Gaylord. The Senate action moves a housing stimulus package closer to law, which would help bring stability to the housing market and stop the rising rate of foreclosures.
“We are eager for the House and Senate to come together to finalize an aggressive bill that will ensure that every American who can afford to own a home and wants to do so will have the opportunity, and that every American who responsibly owns a home is able to keep it,” said Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif.
NAR has expressed ongoing support for many of the provisions in the legislation, including Federal Housing Administration Modernization that will simplify and make FHA-backed mortgages more available, a tax credit for first-time home buyers, reform of government-sponsored enterprises Fannie Mae and Freddie Mac, permanent increases to both GSE and FHA loan limits, and a program to expand FHA that would allow more mortgages to be refinanced.
“The tax credit for first-time home buyers would be a strong stimulus to a weak housing market, and FHA stabilization should help thousands of families refinance existing mortgages and in many cases keep their homes,” said Gaylord.
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