Alerts

From time to time, Valley Home Builders Association reaches out to members, urging action on current legislative and/or regulatory issues. The association's leadership (local, state, national) determine the issues that call for immediate attention. When member assistance is needed, this page outlines the call to action.

Call to Action: Congress Must Extend Conforming Loan Limits
On October 1, 2011, the conforming loan limits for Fannie Mae, Freddie Mac and Federal Housing Administration (FHA) will be lowered. The disruption that would occur with the lowering of the current loan limits would further damage the already fragile housing market and impede the economic recovery of our nation.

The housing finance system is under a cloud of uncertainty. The federal government, through the GSEs and the FHA, is currently accounting for nearly all mortgage credit flowing to home buyers and rental properties. Lowering the loan limits will only further restrict overall mortgage liquidity in the marketplace and place further downward pressure on home prices.

The National Association of Home Builders (NAHB) asks members to speak out:
~ Urge your members of Congress to support immediate efforts to extend the current loan limits for Fannie Mae, Freddie Mac and the FHA
~ A drop in these mortgage loan limits would reduce home prices in major markets all across the country
~ This is not the time to reduce housing demand and exacerbate the current housing downturn

NAHB provides two ways to take action:
~ Call Your members of Congress at (866) 924-NAHB (6242)
~ Write your members of Congress at www.capitolconnect.com/builderlink

If you have any questions or feedback on this issue, please email BuilderLink@nahb.org

Mortgage Interest Deduction Under Attack
Americans overwhelmingly oppose any action by Congress to tamper with the mortgage interest deduction, but it could be eliminated or scaled back as Congress and the Administration are looking at tax increases in light of deficit concerns. The consequences would be devastating for home owners, the housing market and the nation's economy. NAHB has created a web site to address this important effort: SaveMyMortgageInterestDeduction.com is dedicated to preserving the mortgage interest deduction and protecting homeownership.