Getting your player ready...
U.S. Sen. Ken Salazar urged immediate passage of the Housing and Economic Recovery Act of 2008 while in Denver on Monday.
Salazar pointed to a 200 percent increase in Colorado home-foreclosure filings, a sharp decline in home values and decreases in the number of home starts and home sales as reasons his fellow senators should pass the bill, which is expected to go before a vote today.
The bill would provide a federal tax credit of up to $8,000 on a home purchased between April 9, 2008, and April 1, 2009. It also would funnel $150 million into additional counseling services and $3.9 billion to help communities purchase and rehabilitate foreclosed properties.
