The National Association of Realtors is backing efforts by the The Housing Working Group of Business Roundtable to increase the efforts of our government to extend and increase the incentives to stimulate our economy and the real estate market. See the full article from NAR here.

They have already passed the $8,000 first time home buyer tax credit and recently they approved the ability to use this tax credit as a loan towards your down payment and closing costs. This currently expires sometime this November but they are looking to extend this and also possibly increase the amount to $15,000 and open this up to all buyers looking to purchase their primary residence.

Some additional initiatives they are working on:

Keep our current interest rates at an all time low for the next year.

Review current loan modification and foreclosure mitigation.

Make the increased conforming loan limits permanent.

We are making headway and things are really looking positive. We are seeing sales increase significantly over last year. It can only go up from here.

It's a good life,

Ian Anderson

Categories: Buying a home, Foreclosure, Loan Modification, Mortgages and Financing