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Daily Real Estate News | Monday, December 07, 2015 National Association of Realtors

In a big win for real estate, Congress last week approved a $305 billion transportation bill that includes no funding from an extension of mortgage guarantee fees as some lawmakers had proposed.

The bill provides reauthorization of several initiatives that the National Association of REALTORS® supports, including programs to increase transportation safety and develop more pedestrian-friendly communities. But the big victory for real estate was that the bill excluded so-called g-fees to pay for transportation programs. 

More than a fifth of REALTORS® across the country, or about 197,000 members, participated in a Call for Action that NAR launched in October to prevent Congress from using g-fees at the expense of future home owners. Some 600,000 letters in all were sent in what was REALTORS®’ most forceful response to a Call for Action. President Obama signed the bill on Friday.

Dec 01, 2015, 14:42 ET from National Association of Realtors

National Association of Realtors^® President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida, praised sections of the legislation that are important to strengthening neighborhoods and promoting safety, and in particular, applauded the decision not to use guarantee fees, or g-fees, from government-sponsored enterprises Fannie Mae and Freddie Mac as a funding mechanism.

Following is a statement from Mr. Salomone: 

"The multiyear transportation bill moving through Congress is a win across the board, making critical investments in America's infrastructure.

"NAR is pleased at the emphasis placed on safety and alternative transportation options to strengthen neighborhoods, improve property values and make non-motorized transportation, like sidewalks and bike lanes, a priority.

Mortgage Debt Forgiveness Tax Relief

Media Contact: Jenny Werwa / 202-383-1193

WASHINGTON (December 17, 2014) – The following is a statement by National Association of Realtors® President Chris Polychron:

“The package of tax extensions approved by the U.S. House and Senate, and headed to the President’s desk for signature, includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014. NAR applauds Congressional leaders in both chambers for their effort to pass this legislation before adjournment. “Realtors® strongly supported the bipartisan Mortgage Forgiveness Tax Relief Act, which was included in the package to prevent underwater borrowers from paying taxes on any mortgage debt forgiven or cancelled by a lender in a workout or after their home was sold for less money than was owed.

Congratulations to our newly elected 2015 NKAR Directors

Bill Hauser, Century 21 Gold Service

John Vince, Sibcy Cline, REALTORS®

Jeanie McKinley, Coldwell Banker West Shell

Tina Vogelpohl, Century 21 Garner Properties

Thank You to Everyone who Voted!