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The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
He is also seeking down payment assistance of up to $25,000 for first-time home buyers and has proposed to eliminate title insurance on federally-backed mortgages.
Feb. 28—SANTA FE — "We've gotta build houses." That was the message from Gov. Michelle Lujan Grisham as she signed into law a bill geared at increasing the state's low-cost housing stock.
Undocumented immigrants in California could be eligible for state assistance in buying a home under a bill the state Legislature sent to Democratic Gov. Gavin Newsom Wednesday. The proposal, which ...
The main funding differences between the Senate bill and the House bill were: More funds for health care in the Senate ($153.3 vs $140 billion), renewable energy programs ($74 vs. $39.4 billion), for home buyers tax credit ($35.5 vs. $2.6 billion), new payments to the elderly and a one-year increase in AMT limits.
RCW 43.185.050 authorizes the Trust to fund proposals for new construction, acquisition, and rehabilitation as well as rent or mortgage subsidies, down payment or closing cost assistance for first-time home buyers, or mortgage insurance matching funds, social services for housing residents with special needs, technical assistance, shelters for ...
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