FHA and Investor Specialist

as soon as the house and senate iron out the differences between the 2 bills.  we might see something this summer.  That 417 limit isn't set in stone either.  I encourage you and all Realtors to hound your elected officials to get off their buttocks and get it done

Good points- the house and senate are not going to pass the bills and put the new limits into play overnight.

SO GOOD LUCK AND MAKE IT HAPPEN

Hey Michael.  I heard rumors of that news floating around earlier today as well.  Looks like the Massachusetts Congressman Barney Frank is going to bat for us and trying to get this put into place.  I echo what Joe said, we need to hammer this out with our local legislators to get this passed.  Finally some solutions that make sense.  Way to be on top of things; hopefully a sign of things to come!

I heard about this today. Thanks for the post

I know our CEO has been in Washington actively lobbying for many of the FHA reforms in particular.

Michael,

I heard the conforming limit target was $625,500.  Where did you hear $725,000?

I heard it today on CNBC.  $725,000.  Not clear as to when this may happen

Lisa-There are different limits being discussed.  Previously, there was talk of raising the limit to 625k, which IS the conforming limit in some high cost areas currently, like Guam.  There is also talk of raising the limit to 725k.  It is currently unclear what the exact limits will be, when they will be implemented, and what the effects will be.

Are you people insane?  This is just another bail out at the taxpayers expense.  The executives behind this epic crisis need to be convicted and free markets should remain free from government intervention.

If we have not already experienced the beginning; this will start the fall of capitalism.

 

In my opinion and for what it is worth, raising the conforming limit has nothing to do with a bailout and the beginning of the fall of capitalism and everything to do with facing reality.  Right now, perfect credit, decent ltv, full doc, high asset borrowers are being penalized at least a full point simply because their loan amounts do not fall within fannie mae guidelines.  This is long over due.

Not to be confused in my opinion with the discusting government bail-outs and talk of freezing interest rates and general butting in of the government on behalf of the subprime consumer facing foreclosure who likes to blame everyone else for his financial plight except himself. 

Does anyone know if the FHA increase will be nation wide or are they going to stick with the silly by county limits?

I have a 4 page break down of the bills and their differences if you would like a copy email me and see my post http://activerain.com/blogsview/351538/Highlights-of-the-FHA for a few highlights of  the differences. 

ANd

Dan it will be county wide, but there is a process to increase it. 

Thanks, Joe, for the post.  I will take a look at that blog.