Homeowners

Governor Quinn Announces Availability of Recovery Funds for Low-Income Home Weatherization Efforts; Approximately $242 Million in Additional Funding Available

October 15, 2009 -- CHICAGO - October 15, 2009. Illinois Governor Pat Quinn today announced that approximately $242 million in additional Illinois Home Weatherization Assistance Program (IHWAP) funding is available through the American Recovery and Reinvestment Act (ARRA) to assist with low-income home weatherization efforts over the next two years.    » read more »

October 14, 2009 -- WASHINGTON, DC – Today, Congresswoman Carol Shea-Porter urged House Leadership to extend the tax credit for first-time home buyers and to consider including a smaller credit for other home buyers. In a letter to Speaker Nancy Pelosi and Majority Leader Steny Hoyer, Shea-Porter outlined why extending these credits would be beneficial to the housing market and help with our economic recovery.
A fully copy of the letter is below:

October 9, 2009

The Honorable Nancy Pelosi
Speaker of the House
H-232 US Capitol
Washington, DC 20515

The Honorable Steny Hoyer
Majority Leader
H-107 US Capitol
Washington, DC 20515

Dear Speaker Pelosi and Majority Leader Hoyer:    » read more »

Urge Actions to Stem Foreclosures and Stabilize Housing Market

October 15, 2009 -- Washington, DC – Following the recent release of a Congressional Oversight Panel (COP) report, which found that the Administration’s current housing relief efforts lack scope, scale and permanence, Congressman Joe Sestak (PA-07) and top economist Dr. Mark Zandi, today, held a press conference to highlight the need for a comprehensive homeownership vesting plan to address the nearly 12 million homeowners who are currently underwater-- owing more on their mortgage than the value of their home.    » read more »

October 15, 2009 -- WASHINGTON - A local Congressman is supporting efforts in Congress to extend a popular tax break for new homeowners. Rep. Brad Ellsworth says the First-Time Homebuyers Tax Credit has been wildly successful and should be extended for another year. Congress approved the 8,000 tax credit as part of the Economic Recovery Plan in February, but the program is set to expire on November 30, 2009.

Ellsworth co-sponsored legislation, H.R. 3640, to provide an extension and allow more homebuyers to participate. Specifically, the bill would extend the deadline to December 1, 2010 and open up the credit to all homebuyers purchasing their principal residence. Ellsworth said extending the tax credit will benefit more than just homebuyers:    » read more »

Obama Administration Announces $60 Million In Housing Counseling Grants To Nearly 500 National, State And Local Agencies

October 14, 2009 -- WASHINGTON – Hundreds of thousands of American families will have a greater opportunity to find housing or keep the homes they have because of $60 million in housing counseling and counseling training grants announced today by U.S. Housing and Urban Development Secretary Shaun Donovan.

Housing counseling grants will assist families in becoming first-time homeowners and remaining homeowners after their purchase. HUD-approved counseling agencies not only provide homeownership counseling, but also offer financial literacy training to renters and homeless individuals and families.    » read more »

October 13, 2009 -- Connecticut Governor M. Jodi Rell today announced the state has awarded $13,550,000 in Small Cities grants for various projects in 29 towns.

“The mortgage crisis and national recession have taken a toll here in Connecticut. Although the worst appears to be behind us, in the last two years our citizens have had to make some tough choices and really alter the way they live,” said Governor Rell. “We want to help people keep their homes safe, secure and beautiful.”

“This funding round includes 22 grants to help make energy efficient upgrades, safety and security improvements, enhance accessibility and preserve housing in many communities — keeping many of our elderly and low- and moderate-income residents in their homes,” said Governor Rell.    » read more »

13 October 2009 -- WASHINGTON – Last week, U.S. Representative Mike Quigley (D-IL) voted to extend the First-Time Homebuyer tax credit for members of the Armed Services who served abroad this past year. H.R. 3590, which extends the credit for qualifying military personnel through November 30, 2010, passed the House of Representatives overwhelmingly by a 416-16 vote. The current tax credit is set to expire on November 30, 2009.    » read more »

Bipartisan Bill Will Modify Homebuyer Tax Credit for Overseas Military Personnel

October 8, 2009 -- (Washington, DC) – Congresswoman Suzanne Kosmas (FL-24) voted in favor of the Service Members Home Ownership Tax Act (H.R. 3590), which will make changes to home-buying provisions in the American Recovery and Reinvestment Act to benefit active-duty servicemen and women currently, or soon to be, deployed overseas. The bipartisan legislation passed by a vote of 416-0.    » read more »

Bill ensures that men and women serving overseas get equal access to tax credits and benefits

October 13, 2009 -- (Washington, DC) - Late last week, Congressman Baron Hill voted in support of the Service Members Home Ownership Act of 2009, H.R. 3590. The bill was passed by an overwhelmingly bipartisan vote on the evening of Thursday, October 8, 2009.    » read more »

October 12, 2009 -- (Orlando, Fla.) – Congressman Alan Grayson, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan, and Mayor Buddy Dyer toured a neighborhood and highlighted two successful programs helping resolve the problems of foreclosure and slumping property values today in Orlando.

Congressman Grayson said, "A home is not only a roof over your head. It creates jobs for plumbers, carpenters and real estate agents; it's an investment and a savings account; and a paid-off mortgage means security for senior citizens. That's why we are trying to so hard to revive housing in Central Florida."    » read more »

October 12, 2009 -- Saint Paul – With our first taste of winter arriving earlier than expected, Minnesota Governor Tim Pawlenty is reminding families who are having trouble paying their heating bills to contact their local utility company right away.

Minnesota’s Cold Weather Rule, which takes effect this Thursday, October 15, protects residential utility customers from having their heat shut off through April 15, provided they contact their utility to set up a payment plan.    » read more »

10/12/2009 -- To help prevent California homeowners and homebuyers from being negatively impacted by the fraudulent mortgage practices that have arisen in the aftermath of the national foreclosure crisis, California Governor Arnold Schwarzenegger has signed legislation to increase protections for consumers in the lending market and provide law enforcement with more tools to crack down on deceitful mortgage practices.

These bills aim to strengthen California’s reverse mortgage laws by providing senior homeowners with greater consumer protections when considering reverse mortgage agreements, make it a felony to commit fraud in connection with a mortgage application and promote responsibility and accountability in the real estate market.    » read more »

Members who served out of the country for 90 days or more in 2009 will have an extra year to qualify for the $8,000 credit

October 9, 2009 -- Congresswoman Chellie Pingree voted on October 7 for legislation that grants a one-year extension of the first-time homebuyer tax credit for members of the Armed Forces who served overseas in the last year. The legislation passed the House 416-16.

“Our men and women in uniform should not be penalized because they are far from home serving their country,” said Pingree. “This credit is helping hundreds of Mainers make the dream of owning a home come true, and our military members and their families deserve the same opportunity.”    » read more »

October 9, 2009 -- Washington, D.C. - Representative Donna F. Edwards (D-MD) introduced legislation that would extend the first-time homebuyer tax credit for six months, H.R. 3773. Rep. Edwards was joined by Reps. Judy Biggert (R-IL), Chris Van Hollen (D-MD), Paul Broun (R-GA), John Sarbanes (D-MD), and Frank LoBiondo (R-NJ) as original co-sponsors. H.R. 3773 is the House companion to legislation introduced in the Senate by Senator Ben Cardin (D-MD), along with Senators John Ensign (R-NV), Harry Reid (D-NV), Johnny Isakson (R-GA), and Debbie Stabenow (D-MI).    » read more »

8 October 2009 -- Washington, DC – The House today passed the Service Members Home Ownership Tax Act of 2009, H.R. 3590, which includes a Blumenauer provision that allows members of the armed services, Foreign Service, and intelligence community to take full advantage of the 2009 First Time Homebuyer Tax Credit. The bill passed 416-0.

Currently, this credit cannot be claimed by those on temporary government assignment overseas, since the law requires the buyer to live in the home for 36 consecutive months.    » read more »