$8,000 Homebuyer Tax Credit
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. Learn more...

Help for Military Families Forced to Sell at Loss
The economic rescue bill enacted into law includes a provision to help military families forced by deployment or other eligible circumstances to sell their houses at a loss in today's down market. Under the provision, the federal government will cover 95 percent of a loss. The law applies to service members with mortgages entered into before July 1, 2006. An online resource from the U.S. Department of Defense can help your members learn if their client is eligible for the assistance.

Federal Regulators Warn of Mortgage Fraud|
The Office of the Comptroller of the Currency and the Office of Thrift Supervision have issued consumer brochures on avoiding high-pressure and abusive mortgage practices. The U.S. Department of Housing and Urban Development has information on the availability of HUD-approved counseling agencies to help consumers navigate mortgage risks.

From Kansas Insurance Commissioner Sandy Praeger: Going into storm season, here is a great brochure (to download or pass along the link on your website or blog) about what insurance coverages you (and your clients) should know about in case of a disaster. It offers insurance tips in preparation and recovery after a storm.

First-time homebuyers want to buy 
More than three-quarters (78 percent) of potential first-time homebuyers say that now is a good time to buy a home, despite widespread concern about the economy, according to a Century 21 First-time Homebuyer Survey. Out of the 1,000 prospective U.S. first-time homebuyers surveyed in early March, 68 percent think now is a better time to buy than six months ago.

Prices are the driving motivation for potential first-time homebuyers with more than eight of ten first-time home buyers (85 percent) saying they consider current home prices affordable and 73 percent citing that taking advantage of current prices is a major factor in their decision to buy. Interestingly, potential first-time buyers are still split between “being willing to consider an offer now” (42 percent) and “waiting for prices to go down before they seriously consider making a purchase” (48 percent).