This is exciting -- the Senate today voted on the economic stimulus package and approved a tax credit for up to 10% of the purchase price with a maximum of $15,000 for home buyers. It's an amended version of what the House passed, which means it still needs to go to committee. But this is double the amount of the present tax credit which, at the moment, isn't really a tax credit at all but instead an interest-free 15-year loan.
President Obama is behind this big time. Doesn't look like the Republicans are as enthusiastic, but they are in the minority. The President is urging members of Congress to vote on this without delay.
Stay tuned tomorrow for more developments as this piece of legislation works its way through our legislature. I'm stoked. How about you?
The Short Sale Savior, by Elizabeth Weintraub, coming soon to a bookstore near you.
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Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
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The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
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