The GSE finally approves to raise conforming loan limits by the end of this week.
By Carlos Arvizu, (R.V. Zoo)
(Carlos R. Arvizu Sr. with Prudential California Realy)
This morning, the Director of the Federal Government Sponsored Enterprise, Jame B. Lockhard, finally agreed to allow FannieMae and FreddieMac to set the Conforming Loan Limits higher than the current $417,000. Unfortunately, it's taken 18 months of huges sacrafices for the real estate and mortgage industry to get to the brink of total disater.Why it takes so long for these people to make a decision is beyond me. It's very frustrating for homeowners, who are trying to buy or refinance. History teaches us valuable lessons, I not sure if politicians, short term economist, and the news media ever stop to rationalize the long term affects on their opinions, that affect our daily lives.Carlos Arvizu Sr.Prudential California RealtyTheMulhearn Group562-755-3856
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