Finally, someone with a street smart, common sense plan to revive the housing
market. I've said all along that the only way to get the housing market back to stability is to loosen regulations and give the Investor an incentive to make a difference in the market. The only downside I see however, is with the Banks and Lenders, who up till now are the one's calling the shots. Without a "You Must Do This or else" clause in the bill, this program will do down in failure, just like all the rest!! RIP!!
New York Congressman to Propose Down Payment Subsidy
Addressing 3 million properties currently depressing the market, Ackerman proposes a subsidy of up to $20,000 for down payments on foreclosed homes bought by owner-occupants and a tax incentive for investors who purchase foreclosures for rental properties.
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