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Is anyone seeing much of a negative effect on their clients by the FHA Proposed Loan Limitation Changes

Posted by Richard on September 5, 2011 at 5:00am in Short Sale Discussions

Barring Congressional action, Federal Housing Administration (FHA) loan limits will revert

back to loan limits determined under the Housing and Economic Recovery Act (HERA) for loans

insured by FHA on or after October 1, 2011. As a result, FHA loan limits would likely decline

in 669 of the 3,334 counties or county equivalents that are eligible for FHA insurance. If I understand this correctly, this means that they'll revert back to their pre-2008 values. Although I've also heard that there has been talk of extending it.

http://portal.hud.gov/hudportal/documents/huddoc?id=fhaloanlmhera.pdf

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Replies

Jeff Payne September 5, 2011 at 6:09am

I won't see any problems, our average sales price is $165,000 and most of the loans here are VA or USDA Rural Housing
- Richard > Jeff Payne September 5, 2011 at 7:15am
  
  Hi and Happy Labor Day Jeff,
  
  That's good to know.
  - Richard > Richard September 8, 2011 at 5:56am
    
    In case anyone's interested, here's an updated article from U S News.
    
    http://realestate.msn.com/new-mortgage-limits-another-hurdle-for-th...

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