Within the stimulus package proposed in Washington, there is a provision that would allow for the conforming loan limits to be raised from their current limit of 417,000 up to as much as 625,000.  This proposal states that the raise in limit would only last for 12 months, mainly to help borrowers in high cost regions like California be able to refinance and stay out of foreclosure.  This could be great news for the people who live in these regions.  It will likely have little impact on the local market in Nashville Tennesee where I live. 

Thanks,

Chris Haynes

www.besttnloans.com