Big Updates: $2,500 Credit, Housing Grants, And More Benefits!
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2. Lower Housing Costs For Working Families
President Biden has announced new plans to make housing more affordable by:
1) Cutting Refinancing Expenses: Homeowners might save up to $1,500 on selected refinances as title insurance requirements are waived.
2) Lowering Closing Fees: Rules are being worked on to decrease closing costs for mortgages by lenders.
3) Building and Preserving 2 Million Homes: President is calling for more housing tax credits, innovation fund for housing expansion, and increasing bank support for affordable housing.
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