Deficit plan wins backers

In February, the White House created the National Commission on Fiscal Responsibility and Reform to examine how the country spends money and collects taxes.  The commission also was tasked with creating a proposal that would cut the federal budget deficit. MAKING SENSE OF THE STORY The deficit commission’s proposal was released to the public this …

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Panel Unveils Proposal Suggesting Limits on Mortgage Tax Deductions

In early November, co-chairs of the National Commission on Fiscal Responsibility and Reform released a draft of a proposal that suggested significantly reducing mortgage interest tax deductions. The final proposal was released Wednesday amid much controversy. The details of the draft have been circulating for weeks, and while the proposal has received some support, there …

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What Happened to the Government’s Short Sales Program?

The Wall Street Journal posted the following article by WSJ’s reporter Nick Timiraos concerning the Home Affordable Foreclosure Alternatives short sale program: In April, the Obama administration formally rolled out a new program, called Home Affordable Foreclosure Alternatives, that was designed to spur more short sales, where banks allow homeowners to sell their homes for …

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California Realtors Offer Mortgage Assistance for Unemployed

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) recently launched a new program that allows home sellers to purchase mortgage protection coverage and offer it as an additional incentive to home buyers who purchase their home. MAKING SENSE OF THE STORY The “Home Payment Protection Program” (HPPP) is available through California REALTORS® who offer it to sellers …

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