Answer the CFA and Support the $15,000 Tax Credit! Posted by Gary

A new Call For Action will go out today regarding the economic stimulus package being debated in Congress. The CFA asks members of Congress to support the $15,000 tax credit for all homebuyers and to make permanent higher conforming loan limits. These measures will bring buyers back into the market and will have a real economic impact on our nation.

Everyone’s participation is crucial. You don’t have to wait to receive the email, either. Click on the Realtor® Action Center now to participate.

Yesterday, President Barack Obama wrote an editorial in the Washington Post urging Congress to pass the economic stimulus package, saying it includes “actions Americans need.”

Realtors® have an opportunity to tell Congress that the actions Americans need most are those that will help homebuyers and homeowners. These are the ones we’re advocating for in the CFA.

The Obama administration has also promised to deliver a separate plan to deal specifically with housing.

We believe any such housing plan must focus on stemming foreclosures and getting mortgage money flowing again. That was the main purpose of TARP – and one of the major disappointments of that program to date. Like it or not, a “bad asset” bank is an effective way to get problem loans off the books and to free up capital for new homebuyers. It should be considered in a housing plan, along with a mortgage buy-down program and various other NAR-supported proposals.

At the end of the day, low interest rates, tax credits, and other incentives are vital to stimulating the economy. But, they can only work if homebuyers can get a loan.

I love the work we do as Realtors®. That’s why I feel so strongly that we must take action in the political process going on around us. Realtors®, we need you to be a part of the action today by answering the CFA. — Gary Thomas, 2009 VP & Liaison to Government Affairs

  1. I hope this tax credit will be extended well into the fall to have a chance at making an impact. I know many of my buyers in the pipeline are looking at July/August closings.

  2. Wayne

    Those who bought homes during 2008, especially during the latter half should also be rewarded with up to the current suggested tax break. They were taking an even bigger risk than those who may purchase AFTER the stimulus bill get’s passed.