Congressional Decisions Update

Here are some important must-knows about what’s been happening in the government and how it affects buying and selling homes in our area:

-Passed bill to extend deduction of Mortgage Insurance through 2016

-Passed bill to extend tax forgiveness on forgiven debt in short sales of primary residence retroactively for 2015 and forward through 2016

-Determined that USDA loans, currently closed only through the agency, can be handled in the future through outside lenders (the banks and mortgage companies that are currently approved to write VA/FHA loans).  This will speed up the loan process considerable for these loans.   USDA is a zero down program for areas that are designated.  In Clark County, that includes Battle Ground, areas north of Salmon Creek, and Camas/Washougal.

Posted on March 2, 2016 at 5:02 pm
Nancy Johns | Category: Home Buying Tips

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