Viewing posts from: February 2009

The Economic Recovery Package

Below is a news bulletin from our California Association of Realtors President, Jim Liptick. It sounds promising, and will help home sales throughout California. On January 28th, the U.S. House of Representatives passed H.R. 1, the Economic Recovery Package, by a 244 to 188 vote. Amid all the negative economic news we're hearing on a daily basis, this is good news, as the bill contains a number of issues critical to REALTORS® and the industry, including extending all 2008 Metropolitan Statistical Areas' (MSAs') Fannie Mae, Freddie Mac, and FHA loan limits through the end of this year.The extension prevents an MSA's 2008 loan limit from being reduced in 2009 for Fannie Mae, Freddie Mac and the FHA.