Cramer’s Take: The Housing Bill

Government Mortgage Aid
How to Sell Your Home Yourself
Jim Cramer on the New Housing Bill

The newly enacted housing bill should provide homeowners with some relief, but the real winners in the housing bail-out are the banks, including JPMorgan Chase (JPM) and Bank of America (BAC).

By tossing a government lifeline to Fannie (FNM) and Freddie (FRE), the new law will launch a Federal Housing Program to insure $300 billion in mortgages, provide tax-credit to first time buyers and create an independent agency to regulate the troubled companies.

“This is monumentally the most important piece of legislation from the banking system,” says Jim Cramer. Check out Cramer’s take on this new legislation.