OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Issue Position: Housing

Issue Position

Location:
Issues: Finance and Banking Housing and Property

I have been one of the most outspoken opponents of a taxpayer bailout for individuals who are unable to meet their financial commitments. However, I am pleased the stimulus package will provide for an increase in the Government Sponsored Enterprises (GSE) and Federal Housing Administration (FHA) loan limits. The conforming loan limits for both FHA and GSE (such as Fannie Mae and Freddie Mac) loans are increased from $362,000 to $725,000 for FHA and from $417,000 to $625,000 for GSE.

Foreclosure is the least desirable option for everyone involved and this update will give more options to families who truly want to keep their home.


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