Adjusted Loan Limits Among Few Mortgage Provisions in Massive Stimulus Legislation
January 29, 2009
The massive $825 billion second economic stimulus package being debated on Capitol Hill this week offers little direct support to the beleaguered housing and mortgage industry beyond a restoration of last year’s higher conforming limits. Conspicuously absent is any proposal to create a subsidized, below-market rate mortgage program that advocates say is needed to jumpstart the housing market...