Archive for the 'Mortgage/Home Loans' Category
New Legislation Proposed To Protect Consumers
I was reviewing the write-up on Mortgage News Daily and was shocked to read that lawmakers are planning to legislate that “mortgage companies show that its customers can realistically afford the mortgages they are offered.” WHAT???
Isn’t part of the requirement for lending NOW? Isn’t that …
FHA LOAN LIMITS TO BE RAISED TO $417,000
On Friday, December 17, 2007, the Senate passed a bill (93-1) to increase the maximum FHA loan amount to $417,000 for a individual family residence. The current limit is $362,000.
This loan amount matches the current conforming loan amount for conventional loans. This will give some hom…
