Possible housing stimulus proposals

The economic stimulus package is being discussed in the Senate. Here are a few ideas that have been proposed:

• 4% interest rate: a 30 year fixed rate mortgage offered to qualified buyers and homeowners seeking to refinance. The goverment would pay for the difference between the market rate and 4%.
• tax credit: expand $7500 credit to all buyers (now just for buyers who haven't owned in the last 3 years) or increasing the tax credit to $15,000. Another idea is to remove the repayment feature of the tax credit.
• 90 day hold on foreclosures: gives homeowners some time to work out the situation with their lender

Let's hope that the Senators come up with a good plan to boost our housing economy!

http://money.cnn.com/2009/02/01/news/economy/Senate_stimulus_housing/index.htm?postversion=2009020117