RealEstateRama Laws & Taxes
Tennessee Housing Development Agency has launched a new interactive map with details on every active or under-construction apartment community in the state built or rehabbed with the assistance of federal tax credits.
U.S. Senators Jeff Merkley of Oregon and Patty Murray of Washington announced today that the U.S. Senate is pressing the U.S. Army of Corps of Engineers (Army Corps) to move forward with construction of new tribal housing at historical fishing sites to replace villages that were flooded during the creation of the Columbia River dams
Under the proposed new rules, developers can earn points on their Low Income Housing Tax Credit (LIHTC) application if the property qualifies for full Enterprise Green Communities certification. In addition, other energy-saving measures that once qualified for points, such as programmable thermostats and ENERGY STAR® certified clothes dryers, will now be mandatory to be eligible for the competitive tax credit program
With a severe shortage of affordable rental housing in Tennessee, THDA is issuing a new study on the state’s largest, most effective solution. The report takes an in-depth look at the 28-year history of the Low Income Housing Tax Credit (LIHTC) in Tennessee, as well as areas of greatest opportunity in the near future.
“I voted for a long-term serious proposal to simplify the maze of student loan repayment options and make it easier for students to manage their loans relative to their income. I voted against an unserious and unfair proposal to raise taxes and increase the debt just to save former students about $1 a day on their loans, on average, and do nothing for current or future students.” –Lamar Alexander
Banking Committee Senators Introduce Legislation to Modernize and Reform America’s Broken Housing Finance System
WASHINGTON, D.C. - June 26, 2013 - (RealEstateRama) -- U.S. Senators Bob Corker, R-Tenn., Mark Warner, D-Va., Mike Johanns, R-Neb., Jon Tester, D-Mont., Dean Heller, R-Nev., Heidi Heitkamp, D-N.D., Jerry Moran, R-Kan., and Kay Hagan, D-N.C., all members of the Senate Banking, Housing and Urban Affairs Committee, today introduced legislation to strengthen America’s housing finance system by replacing government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac with a privately capitalized system that preserves market liquidity and protects taxpayers from future economic downturns
CHATTANOOGA, Tenn. - March 4, 2013 - (RealEstateRama) -- In response to reports of increased income at mortgage finance agencies Fannie Mae and Freddie Mac, U.S. Senator Bob Corker, R-Tenn., member of the Senate Banking, Housing, and Urban Affairs committee, today said these profits must be used to repay taxpayers and reform our housing finance system after years of government dominance.
WASHINGTON, DC - August 1, 2012 - (RealEstateRama) -- U.S. Senator Bob Corker, R-Tenn., a member of the Banking, Housing and Urban Affairs Committee, made the following statement today in response to a decision by Federal Housing Finance Agency Acting Director Ed DeMarco who rejected a proposal by the Obama administration to use taxpayer dollars to reduce principal on mortgages guaranteed by Fannie Mae and Freddie Mac in which borrowers owe more than their homes are worth. FHFA’s analysis found such a policy would encourage underwater borrowers, most of whom are current, to stop making payments so they can benefit from a taxpayer-funded principal reduction. This outcome would put taxpayers at risk and would not reduce the chances of foreclosure for these borrowers
MEMPHIS, TN - January 24, 2012 - (RealEstateRama) -- Memphis-area home sales for December fell 10 percent from a year ago, with 898 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Total sales for all of 2011 dropped 8.4 percent from 2010, with 12,790 recorded sales. Average sales price year-over-year was down 7.1 percent and for all of 2011 was off 2.9 percent at $125,448. Inventory was down 6.2 percent from the previous month, with 7,194 units listed for sale. Sales volume from 2010 to 2011 fell 11.1 percent to $1.6 billion
WASHINGTON, D.C. - December 1, 2009 - (RealEstateRama) -- Congressman Bart Gordon announced that starting today (Dec. 1), first-time homebuyers in Tennessee will be able to take advantage of an $8,000 tax credit for an additional five months, and existing homeowners are eligible for a $6,500 tax credit for new home purchases.
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