Recovery and Reinvestment Act of 2009: The Short Version

As you may have heard, the Recovery and Reinvestment Act of 2009 (otherwise knows as ‘780 billion dollars’) was signed by the President on Feb. 17th, 2009. Approximately 35% of this bill is intended for tax credits, which is especially good news if you are a new homeowner or are looking to buy in 2009.

The knowledgeable staff writers of Fred Peet’s Real Estate Update have created an easy-to-understand summary of the plan’s provisions relevant to home owners or potential buyers. In the article titled Details of the Recovery and Reinvestment Act of 2009, they cover the following topics:

• Home Buyer Tax Credit
• FHA, Fannie Mae and Freddie Mac Loan Limits
• Neighborhood Stabilization
• Low Income Housing Grants
• Tax-Exempt Housing Bonds
• Energy Efficient Housing Tax Credits and Grants
• Transportation Investments
• Broadband Deployment

You can read the full bill here or you can visit the more reader-friendly site www.recovery.gov. If you are considering purchasing a home in the near future, these are important provisions to become familiar with. The article in Real Estate Update is a succinct and helpful introduction; use it to your advantage!

Recovery and Reinvestment Act of 2009: The Short Version

As you may have heard, the Recovery and Reinvestment Act of 2009 (otherwise knows as ‘780 billion dollars’) was signed by the President on Feb. 17th, 2009. Approximately 35% of this bill is intended for tax credits, which is especially good news if you are a new homeowner or are looking to buy in 2009.

The knowledgeable staff writers of Fred Peet’s Real Estate Update have created an easy-to-understand summary of the plan’s provisions relevant to home owners or potential buyers. In the article titled Details of the Recovery and Reinvestment Act of 2009, they cover the following topics:

• Home Buyer Tax Credit
• FHA, Fannie Mae and Freddie Mac Loan Limits
• Neighborhood Stabilization
• Low Income Housing Grants
• Tax-Exempt Housing Bonds
• Energy Efficient Housing Tax Credits and Grants
• Transportation Investments
• Broadband Deployment

You can read the full bill here or you can visit the more reader-friendly site www.recovery.gov. If you are considering purchasing a home in the near future, these are important provisions to become familiar with. The article in Real Estate Update is a succinct and helpful introduction; use it to your advantage!