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Like I mentioned several posts ago, now would be the perfect time to get your dream house. Market values are down and if it is expected to move, it is more likely to move up especially with the housing bill currently implemented by the government to save the industry.

With this new development, now may be the opportune time to get a new home and support it with a mortgage that suits your needs. And if it’s the right home mortgage you need, there’s no better place to get it than MortgageFindersNetwork.com. There are various types of home mortgage available in the market that it takes a professional to find one that will fit the needs of homeowners. Whether you are a first timer or a someone who wants a better deal and refinance an existing mortgage, MortgageFindersNetwork can help you get the best terms that you can afford and maintain for the duration of the loan.

The website can also offer good advice on home equity loans should you choose to avail that type of mortgage. It has lower interest rates but the risk are higher considering that you can lose your home in the event of default. They will provide you with all the important information you need that will help you make the best decision that will fit your capacity and requirements. Take advantage of the situation now and visit MortgageFindersNetwork.com and browse their mortgage offers. A new and affordable home may just be at the tip of your fingers.

President George W. Bush signed Wednesday the proposed housing bill that will provide mortgage relief to 400,000 homeowners currently struggling to meet mortgage payments and avoid foreclosure. The bill intends to provide assistance to troubled mortgage companies Fannie Mae and Freddie Mac and stabilize financial markets.

It is regarded as the most significant housing legislation in decades which allows homeowners who cannot afford their payments refinance into more affordable loans supported by the government instead of losing their homes. The bill aims to take several approaches in assisting the ailing housing market. Homeowners will be provided more affordable mortgages backed by the Federal Housing Administration which would insure a total of $300 billion in mortgages. However, banks would have to agree to take large losses on the existing loans to avoid costly foreclosures. The bill would increase to $625,000 the size of home loans that Fannie Mae and Freddie Mac can buy and the FHA can insure. They also could buy and back mortgages 15 percent higher than the median home price in certain areas.

Until 2009, the Treasury Department is given unlimited power to lend money to Fannie Mae and Freddie Mac or buy their stock if necessary while the Federal Reserve will take on a new “consultative” role to watch over the companies.

Moreover, the measure includes $15 billion in tax cuts which includes an expansion of the low-income housing tax credit and a credit of up to $7,500 for first-time home buyers for houses purchased between April 9, 2008, and July 1, 2009.