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Breaking News-Real Estate Stimulus

February 14, 2009

The NAR reports that their efforts were worthy with the end result included in the newly passed stimulus package as follows:

1)  Loan limits will be raised in high cost areas to $727,000

2)  The tax credit will be $8,000 with no pay back required so truly a “tax credit”

3)  Over $50 billion included for foreclosure mitigation. 

4)  And rumors are that some of the remaining TARP and TALF will be used to mitigate foreclosures.

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