Monday, February 04, 2008

FHA News in the Ann Arbor Area

It appears that the Senate will pass the FHA stimulus package this week. The timing of the President’s signing of the bill will depend on whether the Senate makes any amendments to the stimulus bill. There are no amendments expected on the mortgage limits. If the Senate passes amendments to the tax incentive portion of the bill, it will require the House and Senate to have a conference before the final bill can then be passed by both Houses of Congress and sent to the President for signature.

At this time, it is anticipated the FHA maximum loan limit in Washtenaw County will increase to $344,875.00. I will keep you updated as more information becomes available.