Free American Recovery and Reinvestment Act Federal Tax Decoder

Derek Markham — Mon, 29 Jun 2009 18:13:31 +0000

The American Recovery and Reinvestment Act (ARRA) signed into law by President Obama in February provides financial opportunities for homeowners, specifically tax credits, rebates, and loans for improving energy efficiency. The Act also provides tax credits for buying a house and for hybrid and alternative fuel car purchases. The problem is that the 400 page legislation can be tough to work your way through to find what’s available to you.

Good News For Homeowners: Obama Mortgage Plan

Reenita Malhotra — Thu, 19 Feb 2009 16:58:23 +0000

Good news for homeowners? Those with loans guaranteed by Fannie Mae or Freddie Mac could be eligible to refinance — even if they owe more than their home is worth.

The newly announced Obama mortgage plan aims to aid as many as 9 million households in fending off foreclosures. Here are its key elements:

Allows 4 million–5 million homeowners to refinance via government-sponsored mortgage giants Fannie Mae and Freddie Mac.
Establishes $75 billion fund to reduce homeowners’ monthly payments.
Develops uniform rules for loan modifications across the mortgage industry.
Bolsters Fannie and Freddie by buying more of their shares.
Allows Fannie and Freddie to hold $900 billion in mortgage-backed securities — a $50 billion increase.

(Source: Marketwatch)

Green Options » homeowners

Free American Recovery and Reinvestment Act Federal Tax Decoder

Good News For Homeowners: Obama Mortgage Plan

Good news for homeowners? Those with loans guaranteed by Fannie Mae or Freddie Mac could be eligible to refinance — even if they owe more than their home is worth.