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Arnold Requests Loan Limits

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Governor Schwarzenegger has issued a request to congress, asking that California's conforming loan limit be raised from it's current (and arguably more attainable) $417,000 to $625,000. The proposal is designed to reduce buyers' dependency on the dreaded "jumbo" loans many buyers lean on in order to enter CA's through-the-roof market. Realtors, builders, and other threatened parties are lobbying for the measure, obviously. [Square Feet]