MBA urges US House Small Business Committee to Extend and Expand Homebuyer Tax Credit

Dennis Norman

Dennis Norman

By: Dennis Norman

Today, testifying before The US House of Representatives Small Business Committee, the Mortgage Bankers Association (MBA) told the committee that the current credit cycle and recession began in the U.S. housing market, and recovery will not be complete until the current oversupply of house on the market has dramatically decreased.

Mortgage Bankers Association Logo MBAThe MBA then cited the recent report by the IRS that over 1.4 million taxpayers have benefited from the tax credit. “Although (the) MBA is seeing some improvement in the housing market, it is essential that the favorable impact of the first-time homebuyer credit be allowed to continue beyond the upcoming expiration date of November30, 2009.” Continue reading “MBA urges US House Small Business Committee to Extend and Expand Homebuyer Tax Credit