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| Activists At Work! Results Of Your Efforts: |
Thank you for taking action on the recent Call for Action. Over 90,000 Realtors contacted the Senate to urge passage of the Housing Bill. The Senate voted 63 to 5 to approve the legislation. As a result of your efforts, HR 3221 includes loan limits up to $625,500 for the GSEs and FHA, as well as an $8000 home ownership tax credit. The bill also includes broad GSE Reform, FHA Reform, development of a National Affordable Housing Trust Fund, and creates a new FHA program to help homeowners at risk for foreclosure.
Final passage of this bill is critical to calming mortgage markets, strengthening housing markets, and stabilizing our economy. Differences remain between the bill passed by the House and the Senate version. These will be negotiated in the next few weeks, and both House and Senate leaders hope this bill to get to the President’s desk before the August recess.