“Given the lack of a private secondary mortgage market, FHA , Fannie Mae and Freddie Mac are pretty much the only game in town,” says Robert E. Tale, chairman of the Mortgage Bankers Association. “Extending the current loan limits …
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FHA Loan Limits Extended Through 2010
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FHA Program updated: Effective January 1, 2009, the FHA loan limit for conforming loans increases to as much as $625500 in the most expensive U.S. markets. This affects both home equity conversion mortgages (reverse mortgages) and jumbo loans. ... (through December 31, 2008) the maximum loan guarantee for VA loans. The period a lender must wait before initiating foreclosure proceedings after a service member returns from service is extended from 90 days to 9 months. ...