Tweet
WASHINGTON (National Association of Realtors) – The National Association of Realtors (NAR) has urged Congress to make the proposed FHA and conforming loan limit increases a permanent part of the 2008 Housing Stimulus bill.
H.R. 5958, also known as the Homeowner Opportunity Act, was introduced yesterday. The bill, which would make permanent the increase to FHA and conforming loan limits for high-cost areas, will be considered as an amendment to the larger housing stimulus bill.
“By making the loan limit increases to FHA, Fannie Mae and Freddie Mac permanent the mortgage market will achieve an immediate increase in liquidity,” said NAR President **** Gaylord. “This increased liquidity should help drive down mortgage costs and create stability in the mortgage market.”
Gaylord added that the amendment can help working families achieve the dream of homeownership by offering a safe and affordable alternative to risky subprime loans.
Excerpt
http://recenter.tamu.edu/recon/
H.R. 5958, also known as the Homeowner Opportunity Act, was introduced yesterday. The bill, which would make permanent the increase to FHA and conforming loan limits for high-cost areas, will be considered as an amendment to the larger housing stimulus bill.
“By making the loan limit increases to FHA, Fannie Mae and Freddie Mac permanent the mortgage market will achieve an immediate increase in liquidity,” said NAR President **** Gaylord. “This increased liquidity should help drive down mortgage costs and create stability in the mortgage market.”
Gaylord added that the amendment can help working families achieve the dream of homeownership by offering a safe and affordable alternative to risky subprime loans.
Excerpt
http://recenter.tamu.edu/recon/