Housing Bailout Bill Has Benefits for More Than Distressed Homeowners

The Housing Bailout Bill making its way through the Senate doesn't just benefit homeowners in trouble. It can also benefit many other homeowners, from first time buyers, to seniors, to veterans. Amongst the benefits:

- Interest free loans for first-time homebuyers
- Additional deductions for mortgage interest
- Lower fees on reverse mortgages
- Rate locks for veterans and foreclosure delays.

Whether these changes are good for the budget or fair for everyone else is an issue to be addressed elsewhere. The bill will be passed so you might as well find out if you can take advantage of it.

The NY Times has a good article with more detail on the benefits.