WASHINGTON -- The National Association of Realtors is supporting legislation passed by the House of Representatives recently to strengthen the FHA loan-insurance program.
The House measure would increase the maximum size of loans that may be made under the FHA program.
Robert H. Elrod, president of the group, said a Sept. 7 report by the Census Bureau underscored the need for greater support of low- and moderate-income housing. The report documented a shortage of affordable rental units, and Mr. Elrod said this left little opportunity for people to progress into homeownership.
"Offering greater homeownership opportunity to low- and moderate-income tenants would help free up the supply of affordable rental units and keep people moving up the housing ladder," he said.
