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UPDATE: NAR Calls for Action Need Our Attention

Mortgage Debt Forgiveness Tax Relief Last week, by a vote of 378 to 46, the U.S. House of Representatives extended the income-tax exemption on mortgage debt forgiven in a short sale or a workout for principal residences.The Senate has not yet voted on the measure.  Please encourage your colleagues to contact their senators if they have not yet done so. NAR will continue to ask members to send messages... 

Call for Action! Flood Insurance Issues Could Sink Your Sales

The Problem: Congress provided a 5-year reauthorization of the National Flood Insurance Program (NFIP), but severe implementation problems threaten to undermine real estate transactions where flood insurance is required to obtain a mortgage. New NFIP rate structures have caused serious confusion and hardship for property owners. The Federal Emergency Management Agency (FEMA) continues to delay and... 

CALL FOR ACTION! – Tell Senators to do no harm to the housing recovery

The Issue U.S. Senators are considering sweeping tax reforms … and they’re starting with a blank slate. That means any current  exemption, deduction, or credit in the tax code must be specifically presented to the Senate Finance Committee by July 26, or it will disappear. Next Steps Each Senator has been asked to submit, in writing, any tax expenditures they wish to see kept in the code.  Senators... 

REALTOR® Call for Action: Do No Harm to Housing

The REALTOR® Party needs your urgent help to protect the stability of the American housing market and the general economy. By now you have seen countless news reports concerning the “fiscal cliff.” Many of these reports speculate that a change to the long-standing policy that allows homeowners to deduct mortgage interest payments from their income taxes could be part of a “fiscal cliff” deal. REALTORS®... 

NAR Call for Action: Mortgage Cancellation Tax Relief

On Sunday, November 4, NAR issued a Call for Action regarding the extension of Mortgage Forgiveness Tax Relief. What’s It About? Today, if a lender forgives some portion of a homeowner’s mortgage, either as part of a short sale or foreclosure, or in a loan restructuring that reduces principal, the owner/seller will pay no income tax on the forgiven amount. Many real estate transactions, including... 

REALTOR® Call for Action: Keep the Housing Recovery on Track!

As Congress returns to Washington, there is unfinished business to complete. One of those items is a housing issue that could affect almost a quarter of all real estate transactions – the expiration of Mortgage Forgiveness Tax Relief. Without action before the end of the year, millions of families who hold distressed properties could face a hefty tax bill for trying to modify their mortgage... 

NAR Call for Action – Tell Congress to Preserve Access to Safe and Affordable Mortgages

NAR is seeking Congressional support for H.R. 273 and S. 3541.  H.R. 273 and S. 3541 provide a long-term solution to maintain access, for growing communities, to the United States Department of Agriculture, Rural Housing Service Section 502 Program. Only Congress can prevent more than 900 growing communities in 48 states from losing eligibility for the Section 502 Program. Currently, the Section 502... 

Congress Extends Flood Insurance Until Nov. 18 – Action Needed

On October 4, Congress extended National Flood Insurance Program (NFIP) authority as part of a broader government funding measure, the Continuing Appropriations Act (H.R. 2608). This latest extension will run through November 18, 2011. The House and Senate are currently working on legislation that would extend the program for five years and make needed reforms to the program. The House passed its version... 

Two Important Calls For Action That Affect YOUR Profession – Have You Visited the Realtor Action Center?

It’s an easy address to remember – www.realtoractioncenter.com – and its contents provide you with a wealth of information so that you can increase your involvement in the political process. The National Association of REALTORS® has issued two very important Calls For Action, and with a couple of clicks of your mouse at www.realtoractioncenter.com, you can make a difference. Call... 

NAR Launches Consumer Call for Action on Proposed 20% Down Payment Requirement

This week, the National Association of REALTORS® (NAR) launched its first consumer Call for Action to six million current or future home owners asking them to support the association’s opposition to the proposed “Qualified Residential Mortgage” regulation that would require a 20% down payment on a purchase of a home. Consumers (your clients) can visit HomeOwnerActionCenter.com to... 
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