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We're sorry, this alert is no longer available. If you would like to learn more about ways you can take action, please visit Realtor Party Action Center.The short explanation of this alert was:
NAR supports legislation to modernize the FHA single-family mortgage insurance program and make FHA loans an available financing option once again. Had FHA loans been a viable product in the recent past, many families would not have fallen prey to the risky sub-prime mortgages causing record numbers of defaults and foreclosures. The specific reforms proposed include: increased FHA mortgage limits nationwide and in high cost areas and lower FHA downpayment requirements.
NAR also supports efforts to increase the Fannie Mae and Freddie Mac (GSE) loan limits to make homebuying more affordable in the nation’s highest cost areas. Allowing regional adjustments to the conforming loan limits is a matter of simple equity for the families residing in high cost metropolitan areas.
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