Scant Support for Senate Housing Bill

“The plan combines large tax breaks for homebuilders and a $7,000 tax credit for people who buy foreclosed properties, as well as $4 billion in grants for communities to buy and fix up abandoned homes.
The measure, titled the Foreclosure Prevention Act, will be significantly redrawn by House critics who say it favors businesses such as home builders instead of borrowers.”

This is very interesting article on how the US Senate plans to pass a bill supporting a home buyer tax break.

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