It is Happening Again . . . TIME TO SPEAK UP AND CALL YOUR CONGRESSMAN

By
Real Estate Broker/Owner with City Center Realtors VA, DC, MD, PA NJ

This is something that I knew was coming.  We are still in a housing crisis.  Congress is not even thinking about how this may affect the homeowner.  Many regions housing is still in recovery.  The homeowner watch the news and  hears that the market it up, but in certain areas this is not true.  Housing values are just staggant and values have gone nowhere.

The market is up the market is down and they hang on to a property that has lost maybe 40% of its value and it will take years for a come back.  They will be unable to refinance and in the next 12 to 18 months their equity loan or arm loan is going to reset.  Example are those who purchased at the height of the market from 2005 to 2008.  In some cases the homeowner is holding a second loan that a balloon payment will be due. This is a serious situation should this not be extended.

Other aspects of this law are outlined in the article.

 

From the Washington Post read Homeowners Tax Benefits To Expire 12/31/2013

Posted by

Esther Camarotte

Managing Broker - Keller Williams Realty Tyson's Corner, Vienna, VA

Associate Broker - Keller Williams Valley Realty

Licensed NJ, NY, VA, DC, MD

Comments (1)

Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Congress has too many problem to be thinking of housing. We have a bunch bullies up there and they think we are their slaves. 

Nov 18, 2013 12:25 PM