We Need the Raises in FHA Limits to be Permanent
Posted Mar 14, 2008 @ 2:41 pm, Viewed by 324 Visitors, Read 327 Times.It's great that the new FHA guidelines were rolled out last week, but it seems like the only way for that to make a real serious impact is if it is made permanent. It's just a fact that real estate in Oakland and the surrounding Bay Area cost more than in most other parts of the country. Therefore it makes sense for us to have higher FHA guidelines...and not just temporarily. We are already almost a quarter of the way through 08', and currently the raises in the guidelines are only in effect until the end of 08'.
I've been following sentate hearings on the economy and housing issues, and it seems many of our elected officials agree with me.
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Hamid Grinage is a Realtor with the Grand Lake office of Prudential California Realty in Oakland. He is E-Certified, a graduate of Sonoma State University, and a member of the National, California and Oakland Association of Realtors.
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Hey Congress pass the FHA Modernization Act! This will bring FHA up to where it needs to be.