Tens of Thousands of Californians Could Benefit from Higher Government-Insured Mortgage Limits

Posted by California Real Estate

March 12, 2008

Congress must finish the job on FHA modernization bill so more families can keep their homes
Temporary loan limits part of Economic Stimulus Package

San Francisco - Tens of thousands of California families could benefit from affordable government-insured mortgages under a plan to be announced shortly that will temporarily increase home loan limits, U.S. Department of Housing and Urban Development Secretary Alphonso Jackson said today. Highlighting the Bush Administration’s plans to help Americans keep their homes, Jackson said the President’s economic growth package, which became law last month with wide bipartisan support, could allow more than 30,000 California families to be eligible over the next several months for safe, affordable mortgages insured by HUD’s Federal Housing Administration (FHA). (more…)