The Real Deal Miami

New president, new housing bill

January 20, 2009 11:51AM

Barack Obama is being sworn in as
president today, and will be releasing the second half of the $700
Troubled Asset Relief Program. In addition, a new bill has been
introduced to help the housing market and jump-start the economy. An
$825 billion program to provide tax breaks for first-time homebuyers
and provide
funds for infrastructure will likely be part of an economic stimulus
bill. The bill will also give the secretary
of Housing and Urban Development the authority to increase loan limits,
and Fannie Mae and Freddie Mac will be able to guarantee and purchase
loans of up to $729,750.