Southern California Real Estate » Market News http://searchonsocal.com Powered by eXp Realty Fri, 22 Apr 2011 21:08:56 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Congress Votes to Extend FHA and GSE Loan Limits through 2010 http://searchonsocal.com/2009/11/02/congress-votes-to-extend-fha-and-gse-loan-limits-through-2010/ http://searchonsocal.com/2009/11/02/congress-votes-to-extend-fha-and-gse-loan-limits-through-2010/#comments Mon, 02 Nov 2009 23:44:12 +0000 Andrew Orth http://searchonsocal.com/?p=189 Accoriding to NAR:

Last week, the House and Senate passed legislation to extend the current loan limits for FHA and Freddie Mac and Fannie Mae (the government sponsored enterprises, or GSEs) through December 31, 2010. These loan limits, set at 125% of local area median home price and capped at $729,750, would have expired on December 31, 2009 in which case loan limits would have been reduced in many markets. The extension is included in the Continuing Resolution (CR) to fund the government for the remainder of 2009. The CR is part of the Department of Interior FY2010 Appropriations bill. As of the deadline for filing this report, the President was expected to sign the bill into law over the weekend.

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