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Tremendous news this week. The US Congress through the Economic Stimulus Plan has just increased the conforming loan limit to a maximum of $729,750 which was previously set at $417,000. The White House has said President Bush will sign the bill next week. This will definitely allow more people to refinance their homes or buy new homes at considerably lower rates.
The details are more complex than the usual guidelines of conforming loan limits, but here is the latest after speaking with Congressman Brian Bilbray’s Office, the San Diego HUD Office, and the House Committee on Financial Services. The FHA, Fannie Mae, and Freddie Mac loan guarantees and limits will be based on 125% of an area’s median home price (but not to exceed $729,750) for 2008. HUD has said it will use the San Diego County median home price and will most likely use the 2007 median home price of $476,000. That would put the conforming loan limit at $595,000 for San Diego County. Need a referral to a good lender, call me.
San Diego Weekly Foreclosure Lists
Please click on the link below to receive the latest recorded foreclosures (Notice of Defaults, Trustee Sales, & Bank Owned) for the week ending 1/25/08. The lists are searchable by zip code or city by using the find function under the edit pull down menu. Or if you’d like a foreclosure list for a specific area let me know. If you have any questions please call me
at 760-431-8724 . Please allow 24 hrs for property viewing appointments.
http://www.easyhouserewards.com/Foreclosure_List2.html
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