Extension of Higher Conforming Loan Limits a Boost?
“Buyers of homes in high-priced markets have some reason to cheer: the federal government recently extended through 2010 the maximum dollar amount for ‘conforming loans.’ This will probably mean better options for borrowers who might otherwise have had to take out ‘jumbo’ mortgages…Alan Rosenbaum, the chief executive of the Guardhill Financial Corporation in Manhattan, said the extension would have important implications for those in New York City and many suburbs that are designated as high-cost areas. The extension of the higher conforming loan limit and the home buyer tax credit ‘will help our market maintain its momentum,’ he said. — NY Times
Feb 15, 2012 | 11:04 AM