Posts Tagged ‘congress’

Meet the caulkers

Posted on December 15th, 2009, by DHW

In an effort to reduce unemployment and increase the number of energy-efficient homes, President Obama is pressing Congress to pass incentives for homeowners who retrofit their homes.
The president is scheduled to tour a Home Depot in Virginia on Tuesday to make his case that creating more energy-efficient homes will create jobs and save families money [...]

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Bill seeks to protect homeowners with Chinese drywall

Posted on November 23rd, 2009, by DHW

U.S. Representative Charlie Melancon of Louisiana introduced the Drywall Victims Insurance Protection Act. If passed, insurance companies will be prohibited from canceling or refusing to renew homeowners’ insurance policies on grounds related to Chinese drywall. The bill also restricts insurance companies from altering pricing or coverage due to Chinese drywall related problems.
Policyholders will still maintain [...]

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Frank pushing proposal to lend money to unemployed homeowners

Posted on November 17th, 2009, by DHW

Using some of the interest paid back to the government on money lent under TARP, Rep. Barney Frank is proposing a bailout for homeowners who are having difficulty making mortgage payments due to unemployment.
The Obama administration’s plan to fix the mortgage crisis has been criticized for being light on aid to unemployed homeowners. A congressional [...]

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Stevens: FHA sublime, not subprime

Posted on November 16th, 2009, by DHW

During a speech to the National Association of Realtors in San Diego, FHA Commissioner David Stevens said his agency is not headed for the same fate as Fannie Mae, Freddie Mac or the subprime sector. Concerns about the FHA’s financial well being were raised last week when it was revealed in an independent audit that [...]

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Will expanding the housing tax credits beyond first time homebuyers contribute to housing inventory woes?

Posted on November 15th, 2009, by DHW

The Capital published an intriguing article addressing the potential side-effects of expanding the housing tax credits beyond first time homebuyers. The article raises some fair questions with regard to existing homes needing to be liquidated so that current homeowners can take advantage of the housing tax credits now afforded to them. The Capital article focuses on [...]

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Audit: FHA’s reserve funds way below what law requires

Posted on November 12th, 2009, by DHW

From The Washington Post : ‘FHA’s cash reserves have dropped well below amount required by law, audit shows’
DHW asks: Do you think the FHA’s reserves will hit zero?
FHA loan limits in your area
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Realogy CEO just doesn’t get it.

Posted on November 11th, 2009, by DHW

In a CNBC interview this morning, Realogy CEO, Richard Smith, called on FHA to increase its minimum required down payment of 3.5%. Mr Smith suggested the ‘risk profile’ will have to change to stave off foreclosures. This argument only perpetuates the myth that those who put less money down are somehow less attached to their [...]

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Critics be damned. Home sales up, prices down

Posted on November 10th, 2009, by DHW

Critics of the Housing Tax Credit were quieted, if only briefly, when the National Association of Realtors (NAR) released data for third quarter home sales. According to the trade group, home sales increased by nearly 6% over this same time last year. Despite the spike in sales, prices have fallen more than 11% during the [...]

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Done! Obama signs bill extending, creating Tax Credits

Posted on November 6th, 2009, by DHW

President Obama signed bill  H.R. 3548, extending unemployment benefits for all states and extending the $8,000 Tax Credit for first home buyers. The bill also creates a $6,500 tax credit for those home buyers who have owned their current primary residence for at least 5 years.  See ‘Housing Tax Credits’ for more details. You can [...]

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See how Congress voted on Tax Credits

Posted on November 6th, 2009, by DHW

GovTrack, a self-described nonpartisan website, released Congressional votes on bill H.R. 3548 Worker, Homeownership, and Business Assistance Act of 2009.
See how Congress voted.
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