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Comments
Raising the FHA limits completely contradicts the National Affordable Housing Movement. The government threw the housing market into "overprice" mode by lowering interest rates too much and leaving them too low for too long and is now further holding up housing prices by increasing what is in essence a first time home buyer borrower program (FHA)to more than 100% of it's existing limits. The foreclosure crisis is the result of poor predatory lending limits that require a complete overhaul to include maximum increases on ARM adjustments. It's shameful that the NAR continues to falsify its position on affordable housing while supporting the legislation that implies an increase of the median housing price. Our crisis exists because houses have increased by light years beyond reasonable income increases. Let it work out.
Posted by: Reginald Harrison | February 19, 2008 08:26 PM
This is great news....thanks for keeping us up to date.
Posted by: Sarah Johnson | February 19, 2008 06:40 PM