|
||||||
|
The Senate passed another short term extension of the National Flood Insurance Program (NFIP) that would keep the NFIP funded through May 31, 2012. The measure awaits action in the House. The current extension expires in one week, on December 16th. While the new extension provides more time, it is imperative that a [...] The United States House and Senate restored FHA loan limits to the level they were at before they were allowed to expire at the end of September. As a result, the limits will rise to 125 percent of the area median home price from 115 percent, up to a maximum of $729,750, from $625,500. [...] Time is running out on the temporary extension of the National Flood Insurance Program (NFIP). After November 18, the NFIP will expire, if a longer term plan is not approved. The House has endorsed a five year plan which Congresswoman Matsui was very involved in and includes important updates for areas of Sacramento like [...] On October 6, 2011, the Senate Finance Committee held another in a series of hearings on tax reform, this time focusing on housing incentives. Five witnesses testified from a variety of perspectives, but they were unanimous on one point: Now is not the time to make any changes to the mortgage interest deduction (MID). [...] On September 26, 2011, the Senate passed the Continuing Appropriations Act (H.R. 2608), which also includes a provision extending the National Flood Insurance Program (NFIP) until November 18, 2011. Next week, the House is expected to approve this extension and has ensured that there will be no lapse in NFIP authority in the interim. [...] On September 8, 2011, the Senate Banking Committee unanimously approved the “Flood Insurance Reform and Modernization Act,” sending it to the full Senate for consideration. This is the Committee’s response to the NFIP reform bill H.R. 1309 passed by the House earlier this year. Similar to the House bill, this one would also provide [...] The debt ceiling agreement signed into law on August 2, 2011 has no direct impact on real estate tax rules or spending provisions. No tax laws of any kind were changed, nor were any housing programs cut. The debt ceiling passed the House and Senate on strong bipartisan votes: 269-161 in the House and [...] In a major victory for REALTORS®, Governor Brown signed into law a C.A.R.-sponsored bill, Senate Bill 458, prohibiting a deficiency after a short sale for one-to-four residential units, regardless of whether the lender is a senior or junior lienholder. Effective immediately for transactions closing escrow from this day forward, both senior and junior lienholders [...] Tuesday the House of Representatives passed a five year re authorization of the National Flood Insurance Program by a vote of 406-22 (HR 1309). This major step forward was due in great part to REALTORS® being heard on this issues and contacting your Representative. Locally Congresswoman Matsui was very active on this legislation. She [...] President Obama signed a law that removed the expanded “1099” reporting requirement which was enacted as part of the health care legislation last year. H.R. 4 was authored by local Congressman Dan Lungren. This legislation is a big win for small businesses and landlords. H.R. 4 came as the result of a caveat in [...] |
Register | Login | |||||
|
Copyright © 2012 Sacramento Association of REALTORS® Web Log - All Rights Reserved |
||||||
Friday, December 9th, 2011
Recent Comments