NOT SITTING ON THEIR HANDS, THE HOUSING WORKING GROUP OF BUSINESS ROUNDTABLE HAS PROPOSALS TO STIMULATE THE HOUSING MARKET

The Housing Working Group of Business Roundtable is an association of leading US corporation CEOs and, applauded by the National Association of Realtors, they are concerned about returning stability and growth to the US housing market. Their recommendations include

Keeping 30-year mortgage rates at historically low levels for the nest 12 month.

Expand current first-time homebuyer tax credit to 10% of the purchase price of the home or $15,000 for all homebuyers and remove current income restrictions and includle all primary residence purchases for the next 12 months

Thoroughly review current foreclosure mitigation and loan-modification programs which are currently showing rising loan-modification re-default rates

Make current temporary conforming loan limits permanent

Review and strengthen government efforts to review and refine mortgage lending practices.

For information about the Housing Working Group and Business Roundtable, go to http://www.businessroundtable.org/.