What’s all the buzz?

The Housing and Economic Recovery Act of 2008, designed to stimulate the housing market is the perfect opportunity for first time homebuyers. A $7500 tax credit is available to first time buyers under this Act and would get the housing market moving again in the right direction. Another benefit this Stimulus package brings fourth is raises to the loan limits of FHA and GSE loans. This will save the consumer thousands in interest payments over the duration of their loans. If you are looking to make a home purchase, take advantage of this newest option because it does have a time limit and is set to expire July 2, 2009. If you would like more information about the impact this will have, you can read the article by visiting the following link: www.realtor.org/research/reinsights/economistcommentary