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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Jumbo loans
Just read the CNN article on Bush's proposed tax rebates. Part of the bill also raises the limit of a jumbo loan from $417,000 to $749,000! That could make it easier to get a mortgage on Long Island.
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Posted 1/24/08 9:08 PM  |
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BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
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Re: Jumbo loans
WOW, that's a HUGE jump
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| Posted 1/24/08 10:51 PM |
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miracline
LIF Adolescent
Member since 10/07 575 total posts
Name:
kayanna
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Re: Jumbo loans
Posted by BlueDiamonds
WOW, that's a HUGE jump
that is a huge jump to me it is a little scary. I am happy for those who can afford it
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| Posted 1/24/08 11:08 PM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Jumbo loans
hopefully the lenders are going to insist on proper documentation this time, no more liars loans!!!!
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| Posted 1/25/08 6:40 AM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: Jumbo loans
I think this is not good. Most people couldn't afford houses with a jumbo loan, now you raise that? Not sure how this will help the economy?
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| Posted 1/25/08 7:17 AM |
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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
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Re: Jumbo loans
They must mean conforming loans, which are currently topped out at $417K.
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| Posted 1/25/08 9:31 AM |
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Salason
♥
Member since 6/05 9878 total posts
Name:
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Re: Jumbo loans
Posted by MrsFlatbread
I think this is not good. Most people couldn't afford houses with a jumbo loan, now you raise that? Not sure how this will help the economy?
It's really got to do with who can buy the loans once they're securitized. Since many investors are backing off of the market, this will make the loans eligible to be purchased by the agencies, making it easier for those above the current conforming balance to get a loan thereby supporting the housing market.
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| Posted 1/25/08 2:17 PM |
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