Next week Realtors from across the country will be in Washington DC. Here is a list of issues they’ll bring up with their members of Congress –
Condo Financing – Send H.R. 3700, the “Housing Opportunity Through Modernization Act” to the President’s desk. H.R. 3700 makes much-needed reforms to the Federal Housing Administration (FHA) condominium loan program, federally assisted housing programs and Rural Housing Service loan programs.
G-fees – Ensure that qualified borrowers have access to safe and affordable mortgage financing and enact legislation that prohibits guarantee fees (G-fees) from being extended, increased and diverted for unrelated government spending. No legislation has been introduced yet this year that would increase or use G-fees as a revenue source for non-housing projects.
Flood Insurance Reform – The Senate should pass H.R. 2901, the “Flood Insurance Market Parity and Modernization Act” sponsored by Reps. Dennis Ross (R-FL) and Patrick Murphy (D-FL).
Keep the MID – Congress is unlikely to pass tax reform in 2016. However, lawmakers and their staffs are already gearing up with plans and ideas for next year when a new president takes office and there could be a shift in control of the Senate and/or House. Now is the time for Members of Congress and their staffs to be reminded how vital real estate tax provisions like the mortgage interest deduction and like-kind exchanges are to the housing market and the U.S. economy. Reform ideas that repeal or weaken tax provisions that encourage homeownership must be rejected. Tax reform is needed, but it must first do no harm.
IRES MLS: Come Home to Colorado 