REAL ESTATE NEWS: March 11, 2010

NAR: Don't rein in FHA
By MATT CARTER The Federal Housing Administration's loan guarantee program remains critical to the nation's economic recovery, the National Association of Realtors said today in urging Congress to refrain from raising FHA minimum downpayment requirements. FHA insured nearly 30 percent of purchase loans in 2009, including more than half of mortgages taken out by first-time homeowners, and NAR also wants lawmakers to make temporary increases in FHA loan limits in costly housing markets permanent. More »

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NOTABLE QUOTE

" 'I want a walkthrough.' 'Where's my contingency removal?' 'Tell the buyers I'm not replacing the faucet, and if they don't like it, I'll just rent.' 'We need to see these eight homes at 9:30!' Some I dispense with; others I simply forward to my unsuspecting husband, who is currently out on an errand to refill my coffee." --Kris Berg

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