While the United States Congress and the White House are in a virtual stand-off over the federal budget, many government-funded programs that affect the Atlanta real estate industry are shut down or facing significant shortages of both staff and funds. With the uncertainty of how long the government shutdown will last, The National Association of Home Builders (NAHB) has compiled[...]
The Consumer Financial Protection Bureau plans to unveil new mortgage rules today that will change how lenders will guarantee that borrowers can repay their home loans. The new rules, which will go into effect in January 2014, were designed to improve consumer safety without tightening credit requirements any further. According to an article in the Wall Street Journal, the rules will[...]
The Federal Housing Administration (FHA), the largest insurer of mortgages in the world, is changing the loan limit for Metro Atlanta real estate. Beginning on October 1, the FHA Loan Limit will be lowered from $346,250 to $320,850 on any contract accepted and assigned an FHA case number. This means that if you are looking to buy a home soon[...]