Landmark Tax Relief Legislation Passed

- Landmark Legislation Passed -

$7500 tax credit to First Time Home Buyers

FHA loan minimum downpayment raised to 3.5%

FHA to refinance those facing Foreclosure

Home owners who do not itemize can add $500 tax deduction to their standard deduction ($1000 for married)

Community Development funding available to State and Local governments for rehab and redevelopment