A couple of times a month our Public Affairs Director David Stark of the Bay East Association of Realtors in Pleasanton CA sends out emails to the members of our local association. He is always on top of the latest local, state and national issues. I think the information below is important and I wanted to send it out to the AR community. This is information comes from NAR.
Loan Limit Increase Call for Action: Want to make the higher conforming loan limits permanent? Please respond to the Call for Action recently issued by NAR urging the Senate to accept the higher loan limit provisions which are part of H.R. 3221.
Earlier this year Congress passed the Economic Stimulus Package which included one-year increases to the conforming loan limits. While the increased limits has helped the real estate market, it's taken several months for Fannie Mae, Freddie Mac and the FHA to implement these changes. Plus, these changes are set to expire at the end of this year. Making the increased loan limits permanent will provide for more financing options for potential home buyers and inspire more sales activity.
NAR needs you to contact your Senator and ask them to make these changes permanent. Responding to the Call For Action is easy. Just click here, add your information and click "send this message."
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