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  • Comment Detail

  • Date: 12/19/13
    First Name: Paula
    Last Name: Cotton
    Organization: Beacon Property Solutions
    City: N/A
    State: N/A
    Attachment: N/A
    Number: 2013-N-18

  • Comment

    FHFA should not lower loan limits for conventional financing. I am a residential broker in Arizona and we have recently experienced a $75,000 for FHA loan limits. Arizona is one of a few states that are beginning to see a recovery in the housing market, however, if FHFA decides to make further reductions in the conventional loan limits, I believe that this will slow the recovery of the market we are currently experiencing and further dampen any chance of recovery for other areas still awaiting a recovery. We have already seen a plateau of activity in our market in recent months as many prospective home buyers are waiting to see what is going to happen in 2014, as we continue to experience challenges in the economy and dealing with the Federal debt ceiling and other issues that Congress can't seem to resolve.

    PLEASE DO NOT REDUCE THE LOAN LIMITS. KEEP THEM AS THEY ARE AND ALLOW THE HOUSING MARKET TO CONTINUE IT'S LONG, SLOW RECOVERY. Americans see the housing market as a leading indicator of the economic recovery. DON'T inhibit this recovery.

    Thank you,