Savvy Consumer: Help is on the way for distressed homeowners [Texas]
Savvy Consumer: Help is on the way for distressed homeowners [Texas],
The new housing law signed last week has some relief for virtually all homeowners:
For property-tax payers, it offers a new deduction, even if you don’t itemize.
For first-time home buyers, a new tax credit is available that acts as a 15-year no-interest loan.
For senior citizens, the new housing bill means lower fees on reverse mortgages, higher loan amounts and more protections.
And for homeowners fearing default, there is more money available for housing counseling and a new program for lenders to transfer failing mortgages to government-backed loans.
Post from: Reverse Mortgage Loan Blog
Savvy Consumer: Help is on the way for distressed homeowners [Texas]
Full post here Reverse Mortgage Loan Blog
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