What the Housing Economic Recovery Act of 2008 Means for REALTORS®

What's New

Housing Bill is Law
July 30, 2008 - The bill signed by President Bush today will help homeowners facing foreclosure find ways to refinance, and will help strengthen mortgage markets.
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***Please note: some of the provisions below have been modified by the American Recovery and Reinvestment Act of 2009, signed by President Obama on February 17, 2009.  Please make sure you visit the American Recovery and Reinvestment Act of 2009 for the updated provisions.

View key provisions> (please remember to visit the American Recovery and Reinvestment Act of 2009 page for updated provisions).

Seller-funded downpayment provision>

Loan Limit Information

FHA Mortgage Limit Database>
HUD-based site that provides county-by-county loan limit information via an interactive US map.

FHA, Fannie Mae, and Freddie Mac Loan Limits> (as revised by the American Recovery and Reinvestment Act of 2009)

NAR Supplemental Materials

 Chart of Adjustable Rate Mortgage Resets for 2007-2008

Related NAR Press Releases and Reports>

NAR Letters to the U.S. Congress and Federal Agencies>