Today the Senate passed an amended version of H.R. 5140. This version includes a $146 billion dollar plan to stimulate the economy with temporary tax breaks for consumers and businesses. It also includes two provisions that could help fuel the housing market.
The bill will temporarily increase the size of loans that that Freddie Mac and Fannie Mae can purchase. The limit would be raised from $417,000 to $729,750 in high cost areas. The bill will also increase the size of loans that FHA could insure.
According to CNN, the House is expected to pass this bill as early as this evening which would put it on the President’s desk as early as tomorrow.
Copyright © 2010 Blancas PropertiesPortions Copyright © 2010 a la mode, inc.Another XSite by a la mode, inc. | Terms of Use| Site MapAll rate, payment, and area information are estimates and approximations only.
