Mortgage, the basics
There will be some buyers who are eligible for mortgage loans who will decide that the combination of low interest rates, a tax credit and lower prices makes this a good time to buy. And any forward movement will be an improvement for the housing market. A major factor dragging down the housing sector has been mortgage foreclosures. The stimulus plan is expected to contain some relief for consumers who are in trouble with their mortgages. Banks and lenders will likely be offered incentives to modify mortgage loans for their customers who may be at risk of foreclosing.