FHA

Good news for the real estate industry and many buyers. The House has passed the bill to reform the FHA mortgage insurance and increase the FHA loan limit. This may eventually be the shot in the arm we need. With the huge inventory of Ventura homes for sale currently, this increase will be a boon to many. One of the best highlights of this bill is that they would increase mortgage counseling for homebuyers to educate them to help avoid foreclosures. From here it goes to the Senate...any guesses on what the time frame might be?