high cost loan areas: Should Congress Extend the Conforming Mortgage Limit? - 03/16/11 09:23 AM
This is a great article to ponder written By Daniel Indiviglio with www.theAtlantic.com.
On October 1, 2011, the mortgage markets in some parts of the U.S. may suddenly slow. At that time, the conforming loan limits -- the highest balance permitted on a mortgage backed by the U.S. government -- will be cut for "high cost areas." So if you want to buy a home in a place like Los Angeles, Manhattan, or D.C., where real estate is relatively expensive, it may be more difficult to get a cheap mortgage stamped with a federal guarantee. Will this change debilitate the housing … (1 comments)