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Another blow to housing markets looms without FHA loan limit extension

Posted on 27 September 2011

In less than a week, the home buying power of millions of Americans will be crippled by an average of $68,000. Some markets will experience declines as high as $250,000. That is, unless Congress intervenes before Oct. 1 when the limits for loans backed by the Federal Housing Administration (FHA) are set to shrivel to pre-crash levels.
But it’s not just buyers in the nation’s priciest markets, where FHA loan limits currently hover at $729,750, who’ll feel the heat of shrinking mortgage caps……………………………………….Full Article: Source


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