About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

Here is the relevant portion from the a recent AP article on the subject:

The measure will contain a broader rewrite of the FHA that permanently raises the dollar limit on mortgages that FHA can insure to $550,000 in the most costly real estate markets. The economic stimulus bill approved by Congress in February temporarily raised the limit to from $362,790 to $729,750.

Republicans rebuffed efforts by Democrats and the White House to reduce down payments on FHA-insured loans.

The most costly element of the bill would allow home builders and other companies that are presently losing money to reclaim taxes paid up to four years ago instead of the two-year period currently permitted.

Comments (0) Posted by G.R.A. Admin on Wednesday, April 2nd, 2008

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