Laws & Taxes

Laws & Taxes

THDA Launches Interactive Map of Affordable Rental Housing

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.

Merkley and Murray Announce Key Appropriations Win To Address Tribal Housing Needs In the...

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

THDA Touts Greener Rules for Construction Tax Credits

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

THDA Reports on Past & Future of Tennessee’s LIHTC

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.

Alexander Votes to Make it Simpler, Easier for Students to Repay Loans

“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

Corker Says Fannie & Freddie Income Must Be Used to Repay Taxpayers, Reform Housing...

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.

Corker Applauds FHFA Decision Not to Encourage Underwater Borrowers to Default on Home Mortgages

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

December & 2011 Year-End Market Report

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

Gordon Announces Homebuyer Tax Credit Extension Takes Effect

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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MERCY LOAN FUND PARTNERS WITH NATIONAL CHURCH RESIDENCES TO PRESERVE MUCH-NEEDED...

Mercy Loan Fund (MLF), a leading Community Development Financial Institution (CDFI) based in Denver, Colo., has announced it has partnered with National Church Residences (NCR) to help preserve 55 affordable homes for seniors at Hickory Hollow Senior Apartments in Memphis, Tenn.

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August Market Report

Memphis-area home sales for August increased 10.3 percent from a year ago, with 1,942 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. Sales were up 11.2 percent from July when there were 1,747 total sales. Average sales price from August-to-August was up 4.4 percent, at $183,175. Inventory decreased 2.1 percent, with 4,713 units listed for sale. Year-to-Date sales volume was up 13.7 percent at $2.24 billion.