nar lobbying: Congress allows loan limits to decrease in Massachusetts - 10/04/11 01:26 PM
FHA/Fannie Mae/Freddie Mac loan limits revert back to lower levels in Massachusetts  
Despite REALTOR® efforts on a national level, Congress let the temporary increases to FHA and Fannie Mae/Freddie Mac loan limits lapse on October 1.  As a result, loan limits have reverted back to pre-February 2008 levels (the date that former President Bush signed the 2008 Economic Stimulus Bill, which temporarily raised the limits).
As a result,  loan limits declined in 669 counties in 42 states across the country.  The new limits will be equal to 115% of local area median home price (from 125%).  The high cost cap will … (1 comments)