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	<title>Housing Complex &#187; Congress</title>
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	<description>D.C. Real Estate, Development, and Urbanism</description>
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		<title>D.C. Acorn Housing Office Still Open&#8211;For Now</title>
		<link>http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/11/25/d-c-acorn-housing-office-still-open-for-now/</link>
		<comments>http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/11/25/d-c-acorn-housing-office-still-open-for-now/#comments</comments>
		<pubDate>Wed, 25 Nov 2009 16:46:05 +0000</pubDate>
		<dc:creator>Ruth Samuelson</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Acorn Housing]]></category>
		<category><![CDATA[Congress]]></category>
		<category><![CDATA[Michael Shea]]></category>

		<guid isPermaLink="false">http://www.washingtoncitypaper.com/blogs/housingcomplex/?p=11134</guid>
		<description><![CDATA[Well, I guess this should come as no surprise. Beleaguered by scandal, Acorn Housing Corporation is laying off some 240 workers, and is determining which offices will close in the coming days, according to Acorn Housing spokesperson Alyson Chadwick. An office in El Paso Texas has already closed, according to the El Paso Times.
Thus far, [...]]]></description>
			<content:encoded><![CDATA[<p>Well, I guess this should come as no surprise. Beleaguered by scandal, <a href="http://www.acornhousing.org/index.php">Acorn Housing Corporation </a>is laying off some 240 workers, and is determining which offices will close in the coming days, according to Acorn Housing spokesperson <strong>Alyson Chadwick.</strong> An office in El Paso Texas has already closed, according to the <em><a href="http://www.elpasotimes.com/business/ci_13859964">El Paso Times.</a></em></p>
<p>Thus far, no one in the Washington D.C. office has been let go&#8212;that is unless you count <a href="http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/09/24/acorn-sues-fake-pimp-and-prostitute-filmmakers/">two people filmed in part of the scandalous video </a>which led to Acorn's woes. They were fired in September, says Chadwick.</p>
<p><span id="more-11134"></span></p>
<p>Acorn Housing advises homeowners on how to avoid foreclosure, and it also assists first-time buyers in navigating the home loan/home search process.</p>
<p>The organization is contemplating changing its name and possibly charging fees to people it advises or their lenders, according to the <em><a href="http://online.wsj.com/article/SB10001424052748703819904574555982328396784.html?mod=residential_real_estate">Wall Street Journal.</a> <span style="font-style: normal;">Earlier this year, Congress, which provided 75 percent of Acorn's funding, cut off contributions to the group, at least temporarily. One would think, that this drop would signal the end for Acorn. But not so fast:</span></em></p>
<blockquote><p>[<strong>Michael Shea</strong>, executive director of Acorn Housing] declines to say how much cash Acorn Housing holds but says he believes it can cut expenses enough to survive on a smaller scale until it can regain federal funding or find other sources of income. He says he is confident that an investigation being conducted by the inspector general of the U.S. Department of Housing and Urban Development, or HUD, will show that Acorn Housing hasn't misused federal funds.</p></blockquote>
<p>Acorn did stop doing intakes of new clients around October 1 though, according to Chadwick.</p>
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		<slash:comments>3</slash:comments>
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		<title>Congress May Pass New Homebuyer Tax Credit This Week</title>
		<link>http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/11/04/congress-may-pass-new-homebuyer-tax-credit-this-week/</link>
		<comments>http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/11/04/congress-may-pass-new-homebuyer-tax-credit-this-week/#comments</comments>
		<pubDate>Wed, 04 Nov 2009 18:47:34 +0000</pubDate>
		<dc:creator>Ruth Samuelson</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Congress]]></category>
		<category><![CDATA[first-time homebuyer tax credit]]></category>
		<category><![CDATA[New York Times]]></category>
		<category><![CDATA[Wall Street Journal]]></category>

		<guid isPermaLink="false">http://www.washingtoncitypaper.com/blogs/housingcomplex/?p=10605</guid>
		<description><![CDATA[Two sources&#8212;the New York Times and Reuters&#8212;are reporting that Congress will likely be renewing the first-time homebuyer tax credit in the next few days. "After weeks of partisan bickering, the Senate voted 97 to 1 to clear a procedural hurdle and move to final passage on Wednesday or Thursday. The House of Representatives is expected [...]]]></description>
			<content:encoded><![CDATA[<p>Two sources&#8212;the <em><a href="http://www.nytimes.com/2009/11/04/us/politics/04cong.html?scp=1&amp;sq=first-time%20homebuyer%20tax%20credit&amp;st=cse">New York Times</a></em> and <em><a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/11/04/AR2009110402166.html">Reuters</a></em>&#8212;are reporting that Congress will likely be renewing the first-time homebuyer tax credit in the next few days. "After weeks of partisan bickering, the Senate voted 97 to 1 to clear a procedural hurdle and move to final passage on Wednesday or Thursday. The House of Representatives is expected to approve it quickly and send it to President Barack Obama to sign into law," according to <em>Reuters</em>.</p>
<p>The original credit was set to expire on Nov. 30. Last week, we learned that the <a href="http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/10/30/homebuyer-tax-credit-will-extend-through-july/">new version of the credit will extend to some current homeowners </a>looking for their next purchase, and that it would apply to all contracts entered by the end of April, and closing before July 1 (via <em><a href="http://online.wsj.com/article/SB125678511901015147.html">Wall Street Journal</a></em>).</p>
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		<slash:comments>10</slash:comments>
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		<title>Homebuyer Tax Credit Will Extend Through July</title>
		<link>http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/10/30/homebuyer-tax-credit-will-extend-through-july/</link>
		<comments>http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/10/30/homebuyer-tax-credit-will-extend-through-july/#comments</comments>
		<pubDate>Fri, 30 Oct 2009 13:14:22 +0000</pubDate>
		<dc:creator>Ruth Samuelson</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Chris Dodd]]></category>
		<category><![CDATA[Congress]]></category>
		<category><![CDATA[first-time homebuyer tax credit]]></category>

		<guid isPermaLink="false">http://www.washingtoncitypaper.com/blogs/housingcomplex/?p=10414</guid>
		<description><![CDATA[People are dying for more information on Congress's first-time homebuyer tax credit, which will likely be renewed soon.
The proof is in the page-views: This brief little item I recently posted on the credit is the most popular post in the last month. Google delivered thousands of readers to my little online doorstep. The second place [...]]]></description>
			<content:encoded><![CDATA[<p>People are dying for more information on Congress's first-time homebuyer tax credit, which will likely be renewed soon.</p>
<p>The proof is in the page-views: This <a href="http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/10/28/first-time-homebuyer-credit-will-be-extended-but-how/">brief little item</a> I recently posted on the credit is the most popular post in the last month. Google delivered thousands of readers to my little online doorstep. The second place winner&#8211;"<a href="http://www.washingtoncitypaper.com/blogs/housingcomplex/2009/10/14/florida-avenue-grilling/">Florida Avenue Grilling</a>," an article I worked on for weeks&#8212;drew half the viewers. Sigh.  So it goes.</p>
<p>You people want first-time homebuyer tax credit news, here you go! On Tuesday, Connecticut Senator <strong>Chris Dodd</strong> announced that his renewal plan had enough backing in the Senate to pass. But he refused to <a href="http://www.reuters.com/article/companyNewsAndPR/idUSN2725988720091027?pageNumber=1&amp;virtualBrandChannel=11604">disclose details about the new agreement, according to <em>Reuters</em>. </a></p>
<p><span id="more-10414"></span></p>
<p>Cut to yesterday, and the <em><a href="http://online.wsj.com/article/SB125678511901015147.html">Wall Street Journal </a></em><a href="http://online.wsj.com/article/SB125678511901015147.html">fleshes out the story:</a></p>
<ul>
<li>"The agreement would extend the existing credit for first-time home buyers, worth up to $8,000, while offering a new credit of up to $6,500 for some existing homeowners."</li>
</ul>
<ul>
<li>"The credit would be extended from its current expiration date of Dec. 1 to all contracts entered into by April 30, and closed before July 1."</li>
</ul>
<ul>
<li>"It is expected that income limits on people claiming the credit would be increased to $125,000 for singles and $250,000 for couples, from the current $75,000 and $150,000, aides said. The credit phases out for people making more than those amounts."</li>
</ul>
<p>Also, <em>Reuters</em> reported that the extension <a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/10/29/AR2009102902771.html">will be "final"&#8212;no extensions on extensions. </a></p>
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		<slash:comments>8</slash:comments>
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