CLTA News Express
An Express Article from the California Land Title Association
CLTA & ALTA Issue Grass Roots Action Alert on FHA Proposed Loan Limits
Bulletin 11/12-45 - October 19, 2011
On September 30, 2011, loan limits for FHA and Fannie Mae and Freddie Mac loans fell from a maximum of $729,750 to $625,500. This change affected 669 counties across 42 states. The Senate may vote as early as this week to restore the higher loan limits to the higher levels, but we need to bring as much positive pressure to bear as possible. Click here to find the effect of lower loan limits in the counties where you do business.
A bipartisan amendment is being offered in the Senate to restore the expired limit for two years. This step will ensure that middle class homebuyers in high price areas have access to mortgage credit to buy and sell homes, and protect against more severe price declines. CLTA respectfully requests that you reach out to our U.S Senators, Senator Feinstein and Senator Boxer, to and urge them to support this amendment.
CLICK HERE TO CONTACT YOUR SENATORS!
Thank you for taking action!
