FHA Reform – Get Involved

Published: March 21, 2008

Voice Your Support for FHA Reform Now!

On March 18th the National Association of REALTORS® e-mailed a Call-for-Action supporting FHA Reform to all REALTORS®.  The subject of the e-mail was “Call for Action: Market Conditions Demand FHA Reform Now”.  It is extraordinarily important that all California REALTORS® respond to this Call-for-Action promptly.

FHA Reform has passed both the House and Senate and is currently in a conference committee to work out the final details of the legislation.  The pivotal concern of FHA Reform is the increase in loan limits.  The Senate version only calls for an increase to $417,000 while the House version calls for an increase up to $729,750.  Therefore, it is crucial, especially in a state like California, that FHA Reform include the House’s version of higher loan limits.  Additionally, the FHA Reform will include a reduction in the downpayment requirement for FHA loans and will include condominiums in FHA single-family program, which will make it easier for condominium purchases as well.

C.A.R. strongly urges members to contact their legislators and voice their support for FHA Reform that includes the higher loan limits, reduced downpayments, and the inclusion of condominiums.   As leaders in the real estate industry and active members of their communities, REALTORS® have the experience and knowledge to explain to Congress why this reform is so necessary.  Please contact your Representative immediately and tell them why their support for the House version of loan limits in FHA Reform is so important. 

You may access NAR’s Call-for-Action to send your own letter to your Congressman at NAR FHA Call for Action

If you have any questions please feel free to call or email Jeff Keller, Public Policy Analyst, at 213-739-8398 or [email protected]

Last modified: March 21, 2008 at 8:57 am | Originally published: March 21, 2008 at 8:57 am
Printed: September 24, 2020