NEFAR Applauds Housing Bill

President Bush signed the Housing and Economic Recovery Act of 2008 on July 30; a significant measure to help stabilize the housing market and slow the rate of foreclosures. "This legislation provides an aggressive stimulus to help bring stability to the housing market, particularly with the $7,500 tax credit for first-time homebuyers," says NEFAR President Bonnie Siecker. Siecker adds that FHA stabilization should help thousands of families refinance existing mortgages and, in many cases, keep their homes. For a chart on the first-time homebuyer tax credit features, click here: first-time homebuyers tax credit chart.

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