Posts tagged What is the timeframe for the new FHA loan limits to be

What is the timeframe for the new FHA loan limits to be available for consumers?

I love getting questions through my nifty Meebo widget in the sidebar.An answer to the question can be found here:HUD is required by the law to publish the new mortgage limits by March 14, 2008….  This data can be found here (pdf).The NAR sent a letter to HUD on February 13, 2008, urging HUD to implement the limits as quickly as possible.  The implementation schedule is complicated by the fact that Fannie Mae and Freddie Mac will be using the same limits above $417,000 and Office of Federal Housing Enterprise Oversight (OFHEO) Director James B.  Lockhart, III (Fannie and Freddie’s regulator) noted in a recent speech that implementation could take up to three months with an additional month for partial enactment.

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