The Housing and Economic Recovery Act of 2008
Filed under: Foreclosure Prevention Act, Housing and Economic Recovery Act — admin @ 11:15 am
H.R. 3221, the “omnibus” housing package has finally been passed and signed into law. The House passed the legislation on July 23rd with a vote of 272-152. In a rare weekender for the Senate, they met and passed the bill on Saturday July 26th by a vote of 72-13. The President signed the bill today July 30th, just shy of a year since the bill was introduced.
The omnibus bill is a patchwork compromise of a number of initiatives in Congress over the last year. Some of the titles of the incorporated legislation include:
- Building American Homeownership Act of 2008
- Clean Energy Tax Stimulus Act of 2008
- FHA Manufactured Housing Loan Modernization Act of 2008
- FHA Modernization Act of 2008
- Mortgage Disclosure Improvement Act of 2008
- REIT Investment Diversification and Empowerment Act of 2008