DreamTeam-Jo Cel Perez & Hector Gamez » tax credit http://dreamteamrw.com Realty World - Peninsula Mortgage Fri, 25 Jun 2010 02:33:37 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Pushing for Housing Tax Credit http://dreamteamrw.com/2009/10/22/pushing-for-housing-tax-credit/ http://dreamteamrw.com/2009/10/22/pushing-for-housing-tax-credit/#comments Fri, 23 Oct 2009 00:49:46 +0000 Joe Perez /?p=116 The National Association of Realtors’ V.P. Ron Phipps stated one of the most important ways for consumers to see a bright future in terms of the economy is for Congress to extend the $8000 home-buyers tax credit. The tax credit has already made an impact as home sales have increased an estimated 5.1 million for the year. Housing inventory has slowed down helping to stabilize house prices. Since the momentum takes awhile, there’s not a better time to build on that by the extension of the tax credit through next year.

The present tax credit is set to expire on November 30th. Those who are in contract now may not be able to take advantage of the credit and close by that time. A few other things that Philips is pushing for is to make the FHA, Fannie Mae and Freddie Mac limits permanent that were established for this year, keep the governments continued involvement in the secondary mortgage market, discuss the Home Valuation Code of Conduct’s side effects that are slowing down sales, and give incentives and uniform procedures for short-sales.

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