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The Budget “Sequester” – What is it and what is the impact on FHA?
What is “the sequester“?
The sequester is a group of cuts to federal spending that took effect on March 1, 2013.
The sequester was originally passed as part of the Budget Control Act of 2011, better known as the debt ceiling compromise.
It was intended to serve as incentive for the Joint Select Committee on Deficit Reduction (aka the “Supercommittee”) to come to a deal to cut $1.5 trillion...
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®...
Real Estate-Friendly Candidates Win Big on Election Day
Election night brought good news to HAR’s 61 recommended candidates and supporters of 8 local ballot initiatives. They all prevailed. HAR had a 100% success rate on its candidate recommendations across an 8-county service area and recommendations on the METRO General Mobility referendum, City of Houston, HISD and HCC bond propositions. A complete list of HAR’s November 6 General Election Recommendation...
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...
REALTORS® Vote 2012: July 31 Primary Runoff Elections
The 2013 legislative session is sure to be an interesting one, with many longtime senators and representatives retiring or losing their races, and it is said by some Capitol insiders that as many as half of the 83rd Texas Legislature will be freshmen or sophomores. Here is how HAR’s 26 Recommended Candidates measured up in the May 29 primary elections.
20 candidates won their primary race outright
3...
Texas Primary Date Set for May 29, July 31 Runoff Election
The Texas Primary elections will be held on Tuesday, May 29, a panel of federal judges ordered on the afternoon of March 1. The three federal judges also unveiled maps for legislative and congressional elections. Although these maps won’t necessarily last for the decade, they are the maps that will be used for the 2012 elections.
Legislative candidates don’t have to live in the districts...
REALTORS® Oppose Funding Payroll Tax Cut On the Backs Of Homeowners
On Saturday, December 17, the U.S. Senate approved a two-month extension of a payroll tax cut that is due to expire at the end of December. But did you know that as part of the Senate’s proposed plan, the cost will fall on people who buy a house or refinance their mortgage starting in 2012?
The proposal is found in H.R. 3630, the “Middle Class Tax Relief Act of 2011.” Under Title...
2011 NAR Legislative and Regulatory Year in Review
During 2011, the REALTOR® Legislative and Regulatory Agenda has focused on ensuring the continued flow of capital into the real estate market, preserving residential and commercial property ownership, and protecting the business interests of its members. NAR recently released a status update for each of these areas of legislation.
Ensuring the Flow of Capital into the Real Estate Market
Restructuring...
Without Congressional Action, Flood Insurance Program Will Expire
June is an ominous month for Houston homeowners. June 1 traditionally marks the start of the Atlantic hurricane season. June 2011 marks the 10th anniversary of Tropical Storm Allison, the costliest tropical storm in U.S. history. Tropical Storm Allison flooded an estimated 73,000 houses throughout Harris County. Damages exceeded $5 billion nationwide.
It is important to remember that floods...
