The nation is still shaken up from its financial crisis, but this week, it seemed like the Senate is prepared to pass a new housing bill to mainly prevent foreclosures. This measure is to strengthen Fannie and Freddie Mac to allow these two companies to come back up, along with giving homeowners a good mortgage to carry. If this new bill passes, expect to see these implemented changes.

• FHA Role Expansion
• Create a New Regulator for Fannie and Freddie
• Raise Conforming Loans
• Update FHA Rules
• Provide Housing-Related Tax Credits
• Help States Buy Foreclosed Properties

Whatever the case, the Senate knows that this bill is long overdue; no longer can the government hope to see this crisis taking care of itself. Changes need to be made, and all that’s needed now is for the House to accept this bill also.

This entry was posted on Friday, July 11th, 2008 at 1:13 pm and is filed under General Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.