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Real Estate News
 
October 2007
> NAR: Mortgage Conditions Bode Well for Housing
Ample availability of financing and advantageous pricing create conditions for improved sales in 2008.
 
> House Votes to Eliminate 'Phantom Tax'
The law would give a tax break to financially-strapped home owners who are forced to pay an income tax on loans that have been forgiven or after a foreclosure.
 
> REALTORS® Seek Flood Insurance Program Expansion
NAR has long been a champion for consumers facing tax on debt forgiven by lenders.
 
> Mortgage Problems Hamper Pending Home Sales
Fewer contracts are being written because of mortgage availability issues, and some creditworthy people who are trying to buy can't because of the credit crunch, says NAR's senior economist.
 
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