Time Running Out for Higher Mortgage Loan Caps

09/09/2011 1:28 PM | Anonymous
Time is running out for Congress to decide whether to block a scheduled drop in the maximum size of government-backed mortgages, and some House lawmakers are calling for quick action.
The group, mainly Democrats from pricey coastal housing markets, is pushing to add to a federal spending bill a measure preventing the maximum size of loans that can be backed by Fannie Mae, Freddie Mac and the Federal Housing Administration from declining next month.  

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