The Obama Administration introduced a program to help state and local housing finance agencies (HFAs) access to funds, so that these agencies are better able to help struggling homeowners and provide affordable mortgages for working families.
Veterans are set to benefit from a couple of provisions currently under consideration in the Congress. One such provision is the extension of the first time home buyer tax credit by one year and another is the HAP tax exemption or exemption of taxes for certain housing assistance payments (HAP).
The U.S. Congress took steps to help first time home buyers by extending the tax credit for buying a home which simultaneously gave a boost to the ailing real estate industry.
