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  • Comment Detail

  • Date: 03/13/14
    First Name: Diane
    Last Name: Kelly
    Organization: Diane E. Kelly, REALTOR
    City: N/A
    State: N/A
    Attachment: N/A
    Number: 2013-N-18

  • Comment

    To Whom It May Concern:

    It has been brought to my attention that you are considering decreasing the $417k maximum conforming loan limit later this year. Home prices are increasing and I do not support this change.
    My young adult children are closing on their first single family home in New Jersey tomorrow. It cost them $325,000 to buy a small two bedroom townhome in a not so good neighborhood several years ago. Now that their second child is due any day, they needed a larger home. It is costing them over $500,000 to buy a house. Prices are not declining any longer! Again, I do not support this change and feel is will hurt the slowly recovering housing market.