Maine 2008 Economic Stimulus Package Proposal Passed

ECONOMIC STIMULUS: NAR applauds the Economic Stimulus package passed by the U.S. Senate last night which includes important provisions that will temporarily raise the FHA loan limits.NAR developed estimates of the temporary FHA and GSE single-family loan limits based on HUD’s existing FHA loan limits. Per the economic stimulus measure, HUD is required to publish the official new temporary loan limits within 30 days of enactment. NAR’s figures are estimates, not official figures. GSE limits remain $417,000 in Maine.  Maine’s estimated FHA increases here – Androscoggin – from $200,160 to $271,050; Aroostook – from $200,160 to $271,050; Cumberland – from $256,025 to $336,875; Franklin – from $200,160 to $271,050; Hancock – from $207,100 to $272,500; Kennebec – from $200,160 to $271,050; Knox – from $200,160 to $271,050; Lincoln – from $241,395 to $317,675; Oxford – from $200,160 to $271,050; Penobscot – from $200,160 to $271,050; Piscataquis – from $200,160 to $271,050; Sagadahoc – from $256,025 to $336,875; Somerset – from $200,160 to $271,050; Waldo – from $200,160 to $271,050; Washington – from $200,160 to $271,050; York – from $256,025 to $336,875.

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