- Relaxed lending standards will allow many owners to refi with lower cost Government owned mortgages. or renegotiate mortgages
- FHA gets 300 billion in new money
- Fannie Mae and Freddie Mac will get the financial supprot they need through a line of credit and maybe the US Govt will become an investor and by stock.
- Stricter controls over Freddie and Fannie. They own or guarantee more than 50% of all mortgages and when you get that big, mismanagement can sink the boat.
- Housing Tax Breaks: 15 billion for low income housing and mor
- Tax Credit: Up to $7500 for first time buyers who purchase between April 19, 2008 and July 1, 2009
- Foreclosure Counseling: $150 million to help owners headed for forcloesure. This money will provide for leagl services and for counseling.
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