I am posting an excerpt from an e-mail from NAR on this topic. The e-mail ,which I am sure goes out to all members, was titled “Santa or Scrooge”. The lobby wants a big Christmas present.
“Send your United States Senator a wake up call by asking him or her to support two measures of vital importance to real estate markets across the country.
FHA Reform S. 2338
Ask your Senator to support FHA reform legislation this year. FHA reform will provide existing homeowners with secure and affordable refinancing alternatives and more mortgage options for first-time homebuyers. Increasing the supply of affordable mortgage money is a critical component for bringing stability to the nation’s turbulent housing markets.
Freddie Mac/Fannie Mae (GSE) Loan Limits
Ask your Senator to support legislation that allows regional increases to the Freddie Mac/Fannie Mae loan limits and stress the need for quick Senate action on this vital reform. This change will make lower-cost GSE mortgage financing available to more families trying to buy homes in high cost areas and increase the supply of mortgage money.”
