By NAR presses Congress on housing stimulus package
The National Association of REALTORS® this week sent Congress a letter urging it to pass a housing stimulus package to help stabilize the housing market.
“As home values continue to decrease in many markets and job losses escalate, homeowners needing to refinance their mortgage or sell their home are left with few options and are sometimes forced to walk away from their mortgage responsibilities,” NAR President Charles McMillan said.
NAR says a federal mortgage interest buy-down program is needed. The program, NAR says, should come from the Treasury Department’s Troubled Asset Relief Program. McMillan says that the buy-down program would offer an incentive for people to buy homes and that would reduce the number of houses on the market. That would make home values more stable, ease foreclosure pressure and increase home sales activity, McMillan says.
NAR also has pushed the federal government to make sure that safe and affordable mortgages are available for homeowners. And, it has advocated that a $7,500 tax credit for first-time homebuyers be extended to all homebuyers.
See Also
- Intero Real Estate Services- Find Real Estate, Property For Sale, Homes For Sale
Intero Real Estate Services is one of the premier real estate brokerages. Find real estate, properties and homes for sale in Arizona, California, Colorado, Florida, Hawaii, Nevada and Texas. - National Association of REALTORS®, the Voice of Real Estate
NAR is the nation’s largest trade association, representing more than 1.3 million members in all aspects of the residential and commercial real estate industries.
