The report is out. Conforming Loan Limits will remain unchanged.
There were many families in the United States that had hopes for an increase in the the conforming loan limit. Those families with current loan pay offs near or higher than $417,000 and higher loan to values, had hopes that the new conforming limits would increase so that their Loan to Values would be accepted in the less stringent conforming guidelines. Word is out, and those families will have to wait until at least 2010 for such expectations. The report came out today as I read on Reuters , the comforming loan limit will remain at $417,000 for 2009.
For more in depth details, click on the Reuters hyper link above.
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