Early this morning, President Bush signed the huge housing bill intended to bring a little relief to struggling homeowners and stabilize the housing markets. This is the one passed last week by the House and by the Senate on Saturday. At one time the President had threatened to veto the bill, but changed his mind.
How this will affect us all remains to be seen. Look for the media to be buzzing about it for a long time to come. It looks like it will put out of business the DAPs (Down Payment Assistance Programs) like Nehemiah, Genesis and Ameridream, while creating some new breaks and incentives for low-income and first-time homebuyers.
On the whole, this should be a help to the areas struggling the most, including Florida.
Read the entire AP story here: Relief Bill.
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