Conforming loan limits for 2009 were revised by the American Recovery and Reinvestment Act which was signed into law on 2/17/2009. The new limits for San Diego County and surrounding areas are…
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Stimulate Investment to Revive Housing:
The Fed announced that it is considering a more direct intervention in the housing market with a plan that could drive NEW mortgage rates as low as 4.5%. Low interest rates on NEW mortgages are certain to result in additional buying activity, but will it be enough to make a difference? If the Fed limits these low rate purchase loans to owner occupied housing only, then it may not be enough.
2009 Conforming Loan Limits
The FHFA released conforming loan limits for 2009 today. The limits will remain at $417,000 for most areas. In San Diego County, a high cost area, the limit will be $546,250. The table gives conforming mortgage limits for San Diego County and neighboring areas…
These limits do depend on the property location. In San Diego County, a high cost area, the limit for single unit properties will be $546,250. The table gives the conforming mortgage limits for 1 to 4 unit properties for San Diego County and neighboring areas.
Bailout is not much help for homeowners
The infamous Wall Street Bailout was signed into law several days ago. The intent of the bill is to provide greater access to credit, hold down interest rates, and prevent a sharp increase in unemployment. What does the bill do for distressed homeowners?