The White House today dropped their opposition to the most extensive housing legislation since the Great Depression. This legislation will offer up to $300 billion in assistance to troubled homeowners. There are still some Republicans in the Senate who want to make sure the bill is helping homeowners and not a bailout for lenders.
One portion of the bill that is of particular interest is increasing the FHA loan limit to $625,000 in high cost areas. Take a look at our report at FHA Purchase loans in Los Angeles for 2008. Who is going to increase their sales in the LA market if this legislation passes as expected?
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