Does anybody know about mortgage relief act that has just been passed?

Question

Does anybody know about mortgage relief act that has just been passed?

Answer 1

A little, there is some on the web.

Did you have a question regarding it?

Answer 2

This article explains some of the benefits, http://www.monitorbankrates.com/mortgage...

Answer 3

I know there is a provision for first time home buyers allowing a tax credit of 10% of the sale price of the home (capped at $7500 for those married filing jointly and making under $150K a year). It also extends the FHA loan amount up to $650K and provides 300 billion dollars to help homeowners facing foreclosure refinance into an FHA backed mortgage.