Proposed Bill: FHA Taxpayer Protection Act of 2009
Posted by Colorado Group Realty on Thursday, December 3rd, 2009 at 11:24am.The Federal Housing Administration mortgage insurance program is a critical part of the American housing fabric and had never been more important than it is in today's market, National Association of Realtors President Vicki Cox Golder told a congressional panel yesterday.
Testifying before the House Committee on Financial Services, Golder urged Congress and the administration to tread lightly before making changes to a program that has a profound impact on economic recovery and serves the nation's families.
So far in 2009, nearly 80 percent of all FHA insured purchasers are first-time homebuyers. Almost 50 percent of borrowers used FHA insurance or the Veteran's Administration's loan guaranty for home-purchase loans and 21 percent used the FHA or VA program to refinance a home loan. Last year, more than 60 percent of home-purchase loans and about 45 percent of refinance loans were insured or guaranteed by either FHA or VA.
To read more about the H.R. 3706, the "FHA Taxpayer Protection Act of 2009", visit http://www.opencongress.org/bill/111-h3706/show
Print
ShareBe the first to comment on this blog entry!
Leave a Comment
Map Search
My Account
Log in, to view your saved searches and add to your favorite listings.
... become a Colorado Group Groupie
- View detailed property information
- Save searches and favorite homes
- Win a free entry into next year�s Steamboat Triathlon
- Map individual property locations
- Receive an invitation to the annual CGR ski day
- Receive a free copy of the Steamboat Magazine
- Enjoy free Steamboat Roaster Coffee at our downtown office