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More State and Govt Real Estate Programs
Everyone is focused on the $7500 tax credit but do you know about the other state and government programs and there impact on the economy.
Foreclosure Relief- This will offer a refinance program that will help struggling homeowners stay in their homes. Yeah Less Foreclosures!!!
FHA Modernization - maximum loan will increase to 115% of median home price in area up to $625,500. This means will be seeing a lot of FHA buyers in 09.
Mortgage Revenue Bonds-States will be given the authority to issue an additional $11 billion dollars to be used to refinance subprime loans and help more first time buyers obtain a mortgage.
GSE Government Sponsored Enterprises- will regulate the industry helping buyers secure financing for homes in high priced markets such as California and the North East. And will become a viable alternative from interest only loans.
LIHTC Low Income Housing Tax Credit and Bonds-helps construct and rehabilitate affordable housing. This will also create more jobs. Open up home ownership opportunities to more people.
Community Development Block Grants -The legislation provides $3.9 billion in grants to state and local governments for the purchase of foreclosed homes and the rehabilitation or redevelopment of residential property. This also will create ... more
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