Extension on Home Loan Limits, First-Time Homebuyer Credit

Lauren Schrader What We're Thinking About Lately...
Courtesy of Tory Tarsitano, CRMS  - Capital Financial Bancorp, Inc. 

The higher home loan limits currently in place are expected to stick throughout 2010, according to National Mortgage News.

The Obama Administration reportedly supports an extension of the current enhanced loan limits for Fannie Mae, Freddie Mac, and FHA loans.

The maximum conforming jumbo loan limit of $729,750 (in the nation’s most expensive counties) is set to expire on December 31, at which point it would drop to $625,500 per the Economic Stimulus Act of 2008.

The true current conforming loan limit is $417,000 for condos and single-family residences.

'Tis the Season to Celebrate your Board

Lauren Peddinghaus What We're Thinking About Lately...

Serving as a Board member for your condominium association tends to be a thankless job.  Owners volunteer their time, effort and resources and often aren't recognized for their hard work.  When owners do contact their Board, more often it is to complain or criticize rather than to offer words of gratitude or encouragement.

On behalf of condominium owners everywhere, HausFS and the Chicago Condo Resource would like to say THANK YOU to the individuals who take on the responsibility of serving on their Boards.  Your neighbors may not know how hard you work, but we do.  And we are grateful that you choose to make a positive contribution with your involvement.

Happy holidays!

Summary of FNMA & FHA Guidelines

Lauren Schrader What We're Thinking About Lately...

The law office of Kovitz Shifrin Nesbit has published an article on how FNMA & FHA Guidelines are affecting mortgages for condo units.

Read the article on their website.

  1. Managing Conflict in Your Association
  2. Rules & Regulations: Your Declaration in Plain English
  3. First-Time Homebuyer Credit Extended
  4. Have You Had Your Pipes Cleaned Lately?

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