The housing market should receive some help if Congress passes a speculated relief  package

The U.S. economy may finally receive the long rumored government housing bailout. The marker has been resilient over the past few weeks thanks to some aggressive action by the Federal Reserve. Congress now may seize an opportunity to create some positive momentum and offer a stimulus package aimed directly at helping fix the foreclosure mess and downward spiral of home prices.

There are a few different proposals that are now circulating including tax credits for individuals who purchase foreclosed homes for as much as $15,000. Another proposal that is gaining some momentum is the increased opportunity for the agency lenders (Fannie Mae & Freddie Mac) to increase their pool of loans they are eligible to purchase. Additional topics could include increasing the role of HUD,  non profit counseling to increase and states able to securitize refinanced bonds.

4-2-2008 © LoanNetwork.com

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