Santa Barbara's Conforming Loan Limits Not Good Enough!

I have pasted the text of an email sent out by the Santa Barbara Association of Realtors below.

I definetely agree that for Santa Barbara's South Coast to have the same conforming loan limit as Santa Maria and Lompoc doesn't make sense.

I have heard that the loan limit for Ventura County would be the mimum of $729,500 if it is figured by county.

So join the campaign of letter writers who are going to try and send the message to our elected officials that from Carpinteria to Goleta our conforming loan limit should be raised.

Let Lois Capps, and Barbara Boxer, and the organizations listed below know that this should be considered a seperate area when it comes to figuring the new conforming loan limits.

This issue could affect pricing and the number of homes that end up in foreclosure, which affects everyone in Santa Barbara.

You can download the letter from the Association's site referenced below.

Stimulus Package will NOT help Santa Barbara!

South Santa Barbara County (Goleta, Santa Barbara, Montecito, and
Carpinteria) is lumped with North Santa Barbara County (Santa Maria, Lompoc and Santa Ynez) which means a $587,500 maximum loan instead of a $729,500 maximum loan. We need to split the calculations for the county.
Help us contact our Congresswoman, Senators, HUD, OFHEO, Freddie Mac, and Fannie Mae and ask them to split north and South County
for purposes of calculating conforming loan limits.

Thank you for making a difference!

Please visit
http://sbaor.com/displaycommon.cfm?an=1&subarticlenbr=32
to see more information about this and to download the letter.

For further information please contact:

Krista Pleiser
Government Affairs Director
Santa Barbara Association of REALTORS®
1415 Chapala St, Santa Barbara, CA 93101
805-963-3787 office
805-884-8609 direct
805-966-9664 fax
GAD@sbaor.com
For more information visit: www.sbaor.com