sheffield: Key provisions of the new 2008 housing bill-Re/Max and Realtor Bob Brandt
- 08/12/08 08:48 AM
This should help to explain some of the key provisions. H.R. 3221, the "Housing and Economic Recovery Act of 2008," passed the House on July 23, 2008, by a vote of 272-152. On Saturday, July 26, 2008, the Senate passed the bill by a vote of 72-13. The President signed the bill on July 30, 2008. The bill includes the following provisions: GSE Reform - including a strong independent regulator, and permanent conforming loan limits up to the greater of $417,000 or 115% local area median home price, capped at $625,500. The effective date for reforms is immediate upon enactment, but … (0 comments)
Still have questions about the homebuyer tax credit? IRS answers them here.
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