U.S. Congress - H.R.5958 Homeowner Opportunity Act of 2008
H.R.5958 - Homeowner Opportunity Act of 2008
To make permanent the increases made by the Economic Stimulus Act of 2008 in the loan limits for the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the FHA. view all titles (2)
All Bill Titles
- Official: To make permanent the increases made by the Economic Stimulus Act of 2008 in the loan limits for the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the FHA. as introduced.
- Short: Homeowner Opportunity Act of 2008 as introduced.
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It’s a stimulus package. Temporary. The loan limits are not how the programs were designed. if more money is needed it should be legislated and insured by private mortgage insurance.
Increasing loan limits, wonderful, saddle people with even more debt. The people tend to think they can handle the debt, then years down the road the debt gives them a very severe beating.
Jerry McNerney— you’re the congressman (my congressman in fact) who represents the city of Stockton, CA — you of all people should be aware of Stockton being the nation’s highest rate of foreclosures. Increasing the loan limit would only increase the severity of the bite when it does come back to bite us in our collective rears.