housing and economic recovery act of 2008: What the Historic Housing and Economic Recovery Act of 2008 Means For Consumers
- 08/06/08 02:26 AM
Seems that everyone is wondering how the recent real estate decline will affect their bottom line. With gas prices soaring, a lagging economy and foreclosures looming, it seems only natural that people are asking about their homes. The federal housing bill called the Housing and Economic Recovery Act of 2008 is geared to help stabilize the economy by providing support to first time homeowners and by providing aid to homeowners facing foreclosure. This bill will allow approximately 400,000 homeowners facing foreclosure to refinance their current mortgages with Federal Housing Administration (FHA) backed loans. The bill also permanently increases the conforming loan (0 comments)