You can help this Stimulus Bill also.

By
Real Estate Agent with Keller Williams Realty Cupertino

 

Last night, a unanimous voice voted added to Lieberman/Isakson Amendment to the Senate Version of Economic Stimulus Bill. That amendment would provid a tax credit to all home buyers at the rate of 10% of the sale price up to a limit of $15,000 and this credit would be available for a one year period to all purchasers of primary residences. The tax credit will not need to be repaid.

 

Today was scheduled  to debate Amendment 353, a proposal by Senator John Ensign (R-NV) that would provide 30 year fixed financing at a rate of about 4%, for anyone purchasing a primary residence.

If both provisions survive in the final passage of a stimulus bill, they will make a tremendous impact on the real estate industry. I have received an urgent email the co-founder of the RE/MAX International. He urged us to "contact your senators and representatives to let them know that you believe these provisions are essential components of any stimulus bill."

  You can go to the official House web sites and you may wrtie to the following link https://writerep.house.gov/writerep/welcome.shtml to locate the email and phone number of your legislators." I located the California congresswoman Anna Eshoo. You may check her web page http://eshoo.house.gov/

 

 

Comments (3)

Craig & Sue Guffin
Coldwell Banker Monsees Realty - Sedalia, MO
Sedalia Mo Real Estate

Thanks for the post. I will go check that out. May even buy a house.

Feb 05, 2009 11:08 AM
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

The final version was passed with a tax credit of up to 10% of the homes value with an $8,000 cap.  The first time homebuyer purchase date needs to be between 1/1/09 and 11/30/09.  The best part is the $8,000 does NOT have to be repaid.

 

Can you say FREE MONEY!!!

 

:)

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#3