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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.
The Federal Disaster Tax Relief Act of 2023, for example, includes provisions for taxpayers affected by wildfires, offering tax extensions and even adjustments to tax liabilities in some cases.
Although the future of a fourth stimulus check is uncertain, there is still a huge chunk of money homeowners can tap into to get relief if they are struggling with housing expenses. While...
The volume of CDS outstanding increased 100-fold from 1998 to 2008, with estimates of the debt covered by CDS contracts, as of November 2008, ranging from US$33 to $47 trillion. Total over-the-counter (OTC) derivative notional value rose to $683 trillion by June 2008, of which about 8% were CDS.
The Home Affordable Modification Program (HAMP) is a government program introduced in 2009 to respond to the subprime mortgage crisis.HAMP [10] is part of the Making Home Affordable program (MHA), [11] established in concert with the Hardest Hit Fund program (HHF) [12] under the Troubled Asset Relief Program (TARP), a part of the Emergency Economic Stabilization Act of 2008. [13]
Texas’ top Republicans are fighting over how to split property tax cuts between businesses and homeowners. Democrats want renters to see relief, too.
In August 2007, Committee announced that "downside risks to growth have increased appreciably," a signal that interest rate cuts might be forthcoming. [4] Between 18 September 2007 and 30 April 2008, the target for the Federal funds rate was lowered from 5.25% to 2% and the discount rate was lowered from 5.75% to 2.25%, through six separate actions.
Jul. 6—AUSTIN — Texas House Democrats put forward their own property tax relief bill Thursday they say includes all the elements that different parties want as well as top Democratic ...