Feb. 12, 2009 - Compromises On The Economic Stimulus Package

 REAL ESTATE HEADLINES.

HOUSE AND SENATE COMPROMISES ON THE ECONOMIC STIMULUS PACKAGE AS OF 2-12-09.

1.  The $15,000 Tax Credit is being considered for reduction to $8,000 for first-time home buyers and won't have to be paid back.

2.  The Compromise Bill will also reinstate the $729,750 loan limit in high cost areas for Fannie Mae, Freddit Mac and FHA loan guarantee programs that was in place throughout much of 2008.

3.  Plans are being put together by the Treasury Department to further reduce mortgage rates to below 5%

4.  Stay tuned in for the final version of these compromises.

Inman News/Skye.   

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