Senate takes first step to extend tax relief for distressed homeowners; bipartisan bill extends key expired tax provisions for two years.
On June 30, 2014, NAR President Steve Brown sent a letter to Federal Housing Administration (FHA) Commissioner Carol Galante in support of FHA’s efforts to reduce mortgage insurance premiums for first-time buyers through its Homeowners Armed with Knowledge program, or HAWK.
On June 26, FEMA released guidance related to providing refunds to property owners that overpaid for flood insurance.
As of July 1st, 2014, Canada has new requirements for senders of commercial emails sent to or within Canada that differ from the U.S. requirements.
On June 19, 2014, the House Judiciary Committee approved H.R. 3086, the Permanent Internet Tax Freedom Act, by a vote of 30-4.
On June 24, the FHA responded to a request from NAR and other groups, regarding the use of the 203k rehabilitation/renovation loan program for flood mitigation. In the letter, dated February 6, 2014, NAR and the coalition asked FHA to confirm the eligibility of the Federal Housing Administration's FHA Section 203k program for the rehabilitation of homes that have not been damaged in a flood, but are at risk of damage from future flood events. The 203k has been used in flooded areas to rebuild homes, and the coalition wanted assurance that the program could be used for mitiga