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Urgent Call-for-Action: Loan Limits PDF Print E-mail
Sunday, 25 September 2011 07:13

NAR recently issued a Call For Action urging REALTORS® to contact Congress and clearly communicate that Congress needs to prevent loan limits from expiring on Sept. 30.

Unless Congress acts, the current loan limits will expire on Sept. 30 and the cost of a mortgage could rise significantly.  More than 30,000 California families will face higher down payments, higher mortgage rates, and stricter loan qualification requirements if conforming loan limits on mortgages backed by the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac are reduced beginning Oct. 1, 2011, according to analysis by C.A.R.

Please contact Congress today and communicate clearly that a housing recovery depends on keeping mortgages affordable and that Congress needs to prevent these higher loan limits from taking effect.

Respond now: https://realtorparty.realtoractioncenter.com/site/Advocacy?cmd=display&page=UserAction&id=1653

By responding you will be urging both Senator Feinstein and Senator Boxer to work to maintain the current loan limits.  If you have already responded to NAR’s Call for Action, there is more that needs to be done:

  • Please urge the agents in your office to respond as well using the same link.
  • Help mobilize your clients. If you or your agents have clients that will be affected by the reduction in loan limits, please have them contact our U.S. Senators Directly to urge them to maintain the current loan limits:

Sen. Dianne Feinstein -- (202) 224-3841

Sen. Barbara Boxer -- (202) 224-3553

 

 
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