We need Congress to help jump start the housing industry by moving quickly to give consumer confidence. We need to bring home buyers back into the housing market with all of the following:

1. A 10% tax credit up to $22,000
2. Allow credit towards down payment
3. Credit repaid if sold within 3 years
4. Interest 2.99% until June 30, 2009
5. Interest 3.99% until Dec 31, 2009

Our nation is in the midst of a economic crisis just like the Great Depression. Housing is the key to recovery and Congress must take bold action to spur a housing recovery. We need a new economic stimulus package that the Obama Administration along with Congress should consider.

If you fail to fix housing, home values and home sales will continue to decline and more foreclosures will drag property values down even more.

Congress should make the recently implemented home buyer tax credit much larger. The mortgage rates should be set to 2.99 percent with the government using a buy down. These measures would help stabilize home values and save thousands of jobs. It would help both the housing market and the economy head back in the right direction

We have had similar downturns in the past and Congress enacted similar policies which work then, and will work again.

The American housing market is pulling down the entire economy and we need to "Fix Housing First". The value of every American home is dropping in value each day and we need to stop the devaluation of housing. We have thousands of American construction workers out of jobs with the risk of even more job lost in the future. 
 
A new housing stimulus package is the answer for America because we need to "Fix Housing First".  The housing stimulus package would give buyers an incentive to buy now and not wait for next year to buy a home.  This would also solve some of the problems with foreclosures because you would be giving reasons to buy now. 
 
VISIT: www.FixHousingFirst.com for more information.

We need a recovery package that will cover many areas of our economy. We need to create jobs in technology, alternative fuels, road/bridge building, construction, infrastructure, hospitals, schools and the internet.

The recession and the net job loss that we now have will require hundreds of billions of dollars to solve the problem. We now have unemployment above 6.5 per cent.

Barack Obama plans to revitalize the economy because his economic group believes that a giant stimulus package is required to revitalize the economy.

With the legislative agenda that Barack has promised, he will have to find ways to fund the legislation. This legislation must fix some major problems for our nation. The total cost is about $700 billion or more.

Housing Stimulus Package to Provide up to $7,500 Tax Credit, Stabilize Neighborhoods, Attract New Capital to Communities:

This legislation, Housing Stimulus Package, will provide an enormous help to the housing problem and housing industry. It gives a temporary tax credit to first time home buyers and will help the mortgage market and troubled loans. The federal government is providing this $7,500 tax credit for first time home buyers.

You will have to buy your home by June 30, 2009. If you are single, the benefit phases out if you earn more that $75,000. For couples, the earning level is $150,000.

The Federal Government  has approved a major Housing Stimulus Package that will address the turmoil in the financial and housing markets and to bolster the nation’s faltering economy.

One of the key items in the Housing Stimulus Package is a $7,500 tax credit for first time home buyers. This will amount to an interest FREE loan. You will have to pay it back, but it is interest free.

Congress has worked to provide relief to the American people with this Housing Stimulus Package which contains several provisions to help home buyers and stop the slide in home prices. It provides a real lifeline to borrowers facing foreclosure and improves on mortgage liquidity and bolster confidence in Freddie Mac and Fannie Mae.

Senate Banking Committee Chairman Chris Dodd, calls it “The most important piece of housing legislation in a generation.” Senator Dick Durbin, “I’m pleased that the Senate is addressing the housing. While it is not a perfect bill, it is a recognition that this is a crisis which is not capable of healing itself.” Senator John Mc Cain, said "he supports the housing bill passed by Congress yesterday to stem foreclosures and aid Fannie Mae and Freddie Mac." Senator Barack Obama, "I applaud the Senate's passage of urgently needed housing legislation which the President has finally agreed to sign." House Speaker Nancy Pelosi, said that the bill “Represents the most far-reaching reform of our nation’s housing finance system in a generation.”

Housing and Economic Recovery includes several provisions aimed at ending the current cyclical downturn in the housing industry and strengthening the housing finance system.

This Housing Stimulus Package with not only help the first time home buyer, but will help people in foreclosure as well.

The Housing Stimulus Package gives the first time home buyer a tax credit of $7,500 that basically is a interest free loan.

This Housing Stimulus Package will certainly offer help in the mortgage re-negotiation and foreclosure area. It will also stimulate housing demand among first time home buyers with a 15 year interest free loan of up to $7,500. The loan, which is really a tax credit, will have to repaid over 15 years.

If you sell the home before the 15 years are up, you will have to repay the balance, if there is any gain over the original purchase price.  The payment on the tax credit is not due until 2010 or when your tax return is filed.  The payment of the tax credit, if you claimed $7,500, would be $500 per year until it is paid.

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