From the Sacramento Bee. This law is expected to take effect on Monday. It will definitely stem some foreclosures and perhaps quell the fears of some individuals who believe the market is about to be flooded with foreclosures.
SACRAMENTO, Calif.—California is imposing a 90-day moratorium on housing foreclosures under a new law that takes [...]
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WASHINGTON (AP) — Housing Secretary Shaun Donovan said Thursday it’s critically important that banks and lending institutions “step up to the plate” to help make certain the Obama administration’s new home foreclosure initiative succeeds.
“This started as a mortgage crisis but it’s become a jobs crisis,” said Donovan, speaking a day after President Barack Obama announced [...]
CHICAGO (MarketWatch) — The Obama administration will soon announce a new economic strategy that would lower mortgage costs and extend credit to small businesses, the President said in his weekly radio and Internet address on Saturday.’
By Amy Hoak, MarketWatch
"Soon my Treasury Secretary, Tim Geithner, will announce a new strategy for [...]
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Economic Stimulus and Tax Credit
Tax Credit for Homebuyers
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction – a tax credit is equivalent [...]
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