There are lots of ideas and discussions as the Stimulus Bill moves to the House. Key senators from both parties have said they will push for measures intended to spur sales and help homeowners at risk of foreclosure.
There is discussion of a 4% mortgage: Senate Republicans are likely to introduce a provision that would encourage lenders to offer a 30-year fixed rate mortgage at 4% for a limited period of time. The loans would only be available to credit-worthy home buyers and homeowners seeking to refinance.
Others would like to expand home buyer credit: Senate Budget Committee Chairman Kent Conrad, D-N.D., said last week he would propose an expansion of a temporary $7,500 first-time home buyer credit so that it applies to all purchases of primary residences.
Some Republican senators have called for an increase in the credit to $15,000.
Other ideas are to hold off on foreclosures: Senate Banking Committee Chairman Christopher Dodd, D-Conn., told reporters last week that he would like a provision in the stimulus package that would impose a 90-day moratorium on foreclosures. Dodd may consider other housing measures as well.
CNN Money
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