There are many lenders in the business to assist you as a Home Buyer, all with a variety of programs and options that may work best for you. It is important to understand the terms of any loan, to have communication with the lender that is honest and easily available and certainly someone with experience you can trust.
EMAIL Mark Myers, Sales Manager for Countrywide: Office: 937-431-6803
FAX: 866-905-5186 or logon to www.lendingbymark.com
In my direct field – the lender is just as important a key component to the process as having a home to sell and a buyer to purchase, and I rely on the lender to make the deal a possibility for you. While a working relationship is only as good as the “last transaction” I have the opportunity to learn what programs lenders are working with as well as seeing who can work well with my clients. Please feel free to shop around for a lender as you deserve the best deal; but also allow a lender I am familiar with as well to see how they can assist you. It is ultimately your decision and one I always want to be a positive experience for you.
Key elements of the Housing and Economic Recovery Act of 2008 include:
A temporary first-time home buyer tax credit. The tax credit will stimulate home buying, reduce excess supply in housing markets and shore up home prices.
FHA modernization and expansion. A revitalized FHA will have greater flexibility to respond to the needs of borrowers, enable more working families to become home owners and play an important role in the mortgage markets. To address the foreclosure crisis, the FHA is given additional authority to insure up to $300 billion of mortgages to refinance loans headed for foreclosure.
GSE (government-sponsored enterprise) reform. The law reforms the regulation of Fannie Mae and Freddie Mac and permanently increases the conforming loan limit to help buyers in high-cost markets. To reassure financial and global markets, the government will temporarily expand its line of credit to Fannie and Freddie and permit the U.S. Treasury to purchase an equity stake in the companies through the end of 2009.
Mortgage Revenue Bond Program. The measure gives states the ability to issue an additional $11 billion in mortgage revenue bonds, which will help strapped borrowers seeking to refinance their home loans.
Low Income Housing Tax Credit. Enhancing this program will expand the supply of much-needed affordable rental housing.
Tax Credit.
The centerpiece of the housing bill is a temporary, $7,500 first-time home buyer tax credit for the purchase of any home. The tax credit can be used for homes purchased between April 9, 2008 and July 1, 2009.