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On-Q/Legrand Joins NAHB in Proactive Measures to End Mortgage Crisis


Harrisburg, PA, January 13, 2009 - On-Q/Legrand, the leader in home systems, has joined the Fix Housing First Coalition, a group of industry vendors and associations to advocate stronger government intervention in the mortgage crisis. The coalition is backing a short-term government-sponsored housing stimulus to encourage home-buying and in turn spur the economy.

"No longer are we going to stand aside as home values diminish and home sales plummet," asserts Doug Fikse, president of Legrand Home Systems. "A proactive approach is essential to solve the housing crisis and stimulate the broader economy."

With support from the National Association of Home Builders (NAHB) and hundreds of companies in the housing market, the Fix Housing First Coalition emphasizes the imperative need to stabilize the housing market in order to restore buyer confidence and home values.

In April of 2008 Congress enacted a temporary solution in an effort to jump-start home buying: a $7,500 tax credit for first-time homebuyers that would be paid back in $500 yearly installments.

Not good enough, according to the Fix Housing First Coalition, which cites the spiraling decline in home-buying as evidence of failure. The solution this group advocates is a tax credit of 10 percent of the price of the home (capping at around $22,000) for all homebuyers (not just first-time homebuyers) with no obligation to repay the credit.

The coalition also recommends a 30-year, fixed rate mortgage between 2.99 and 3.99 percent to reduce the chances of foreclosure. These measures, the coalition asserts, will help stabilize current home prices, encourage the purchase of homes, create jobs and fuel the recovery of the economy.

To learn more, join the coalition, or support the coalition's solution by emailing Congress, visit http://www.fixhousingfirst.com.

About On-Q/Legrand
By combining an innovative lifestyle-solutions approach to selling home technology with elegant, award-winning products, On-Q/Legrand is the only source you need to succeed in the home systems market. Headquartered in Harrisburg, Pa., On-Q/Legrand manufactures home technology products which are sold and installed through a network of distributors, dealers and residential builders. Learn more about us on the web at www.onqlegrand.com.

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