2/20/09

Congress and the Obama administration have acted swiftly to address the nation's economic crisis.  This week, the President signed the American Recovery and Reinvestment Act of 2009, which includes a number of provisions beneficial to homeowners and local communities.  Highlights inclue resetting the conforming loan limit cap at $729,750, up from $625,500 and reinstating these 2008 loan limits through Dec. 31, 2009.

Also this week, the Obama administration unveiled its plan to address the mortgage foreclosure crisis.  The Homeowner Affordability and Stability Plan, which will offer assistance to as many as 9 million homeowners, while attempting to prevent the destructive impact of foreclosures on families and communities.

For detailed information on both issues, please see the links below:

• American Recovery and Reinvestment Act of 2009
• Homeowner Affordability and Stability Plan