Bush Gives His Approval on Housing Bill

So, most recently you know that the Senate passed the housing stimulus bill and it was being sent to the House for hopefully a rapid response. Well, that’s exactly what happened - the bill was passed through the House on Wednesday and sent along to President Bush, who quickly gave his approval. Now the bill is to be sent back to the Senate, and after this final passage, the bill will become a law. This could happen as early as Friday! Bush was happy to support the bill to help restore confidences in the housing market.

So, what does this mean to you? Well if you are a homeowner in Atlanta real estate who is on the verge of foreclosure, the new legislation could help you refinance your mortgage or provide some other form of help to prevent foreclosure. There is also going to be more assets available to the Atlanta government to purchase and refurbish foreclosed home. State governments will also have funds to produce low-income housing and provide low-interest rates for first-time homebuyers. And, of course, the amazing tax credit for first-time homebuyers that purchase a new home between April 9, 2008 and July 1, 2009. The AJC published an article today about the bill that you can read for more information.

If you haven’t yet considered purchasing a new home in Atlanta, then you should start acting. Of course, Atlanta’s favorite real estate blog will keep you posted once the bill becomes a law, but it isn’t too soon to start getting prepared. Once the housing stimulus bill becomes a law, more home shoppers are going to be buying as the conditions are more stable and favorable. Once this happens, these fantastic incentives and great low prices are going to disappear. It has never been a more true statement to say NOW IS THE TIME TO BUY!