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As a REALTOR you recognize that stabilizing the current mortgage market turmoil requires an immediate and significant response from Congress. I strongly recommend contacting your Member of Congress to ask for his or her YES vote on H.R. 1852, the Expanding American Homeownership Act of 2007 and a YES vote on the Frank-Miller-Cardoza amendment.

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H.R. 1852 reforms the FHA program by building on the strength and security of successfully insuring mortgages for more than 70 years. It is the immediate and significant response necessary to return stability to the mortgage market.

The amendment offered by Congressmen Frank (D-MA), Gary Miller (R-CA) and Cardoza (D-CA) raises the single-family FHA loan limits to 125% of area median home prices and permits the Secretary of Housing and Urban Development to grant additional increases if required by market conditions.

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Sincerely,
Pat V. Combs, NAR President

If you need technical assistance with responding to this Call For Action, please call 1-866-711-5643 M-F 8:30AM to 5:30PM EST.

If you have any policy related questions, please contact us at comments@realtoractioncenter.com