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  • Comment Detail

  • Date: 12/19/13
    First Name: Mary
    Last Name: Rigby
    Organization: RE/MAX Pinnacle
    City: N/A
    State: N/A
    Attachment: N/A
    Number: 2013-N-18

  • Comment

    I am writing to comment on the proposed reduction from the current $417,000 loan limit down to $400,000.

    In our market particularly I think it will have a huge impact on buyers. I sell real estate in Durango, Colorado and we are just now starting to recover from the devastating real estate crash that we have endured for the past 5 years.

    Reducing the maximum conforming loan from $417,000 to $400,000 does not seem like it would have much impact but I guarantee you it will. Please do not make this change at this time. Right now we are in what I would consider to be a fragile market recovery and any change in the financing such as this would cause a currently fragile market recover to stall which we do not want to see happen.

    I strongly urge you to wait on making this change until we see a much more stable market recovery, one that can handle a big change such as this.