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Great news for the housing market - Today President Bush signed the housing stimulus package into law.
This milestone legislation will help provide an enormous boost to the housing industry in the form of a tax credit for first-time home buyers, as well as much-needed measures that will improve mortgage liquidity, foster refinancing of troubled loans and expand the supply of affordable rental housing.
The temporary first-time home buyer tax credit of $7,500 will help stimulate home buying, reduce excess supply in housing markets and shore up home prices.
For more information on this stimulus package visit www.selectbrokersrealty.com
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