mortage

Obama will help Fannie Mae and Freddie Mac

December 25, 2009 - 9:18am | Articles | Banks and internet banks

According to WashingtonPost the Obama administration pledged Thursday to provide unlimited financial assistance to mortgage giants Fannie Mae and Freddie Mac, an eleventh-hour move that allows the government to exceed the current $400 billion cap on emergency aid without seeking permission from a bailout-weary Congress.

The Christmas Eve announcement by the Treasury Department means that it can continue to run the companies, which were seized last year, as arms of the government for the rest of President Obama's current term.

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Up to $15,000 tax credits may boost house sales up to 40%?

June 22, 2009 - 8:25am | Law aspects | News

The rise of a tax credit from the present $8,000 to $15,000 for first time-time home purchasers is being called by lawmakers and businesses. In their view, this would positively affect the sale of houses and result in higher sales as up to 40% of house purchases are made by first-time home purchasers according to the National Association of Realtors.

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