Posted by poddarbiz@gmail.com on January 27, 2008, 6:29 pm
Read the full article here:
http://www.desicrazy.com/2008/01/24/economic-stimulus-package-means-jumbo-loan-limit-increased-to-730k-many-previously-jumbo-loans-are-now-conforming-and-cheaper/
Posted by Rick Blaine on January 27, 2008, 11:22 pm
Don't get your hopes up. According to the two quasi governmental agencies that
insure these loans, it will take at least six months foir them to get the
procedures in place to handle jumbo loans.
Furthermore, they are constrained by the amount of capital they have available
to make loans - they won't be issuing anywhere near enough to bring rates down
significantly.
Funny - this. You'd think the political party that is always railing on about
the "rich" getting all the breaks would be fighting this tooth & nail, but they
are the ones who've been pushing for it.
Posted by Banty on January 28, 2008, 8:27 am
>Don't get your hopes up. According to the two quasi governmental agencies that
>insure these loans, it will take at least six months foir them to get the
>procedures in place to handle jumbo loans.
>Furthermore, they are constrained by the amount of capital they have available
>to make loans - they won't be issuing anywhere near enough to bring rates down
>significantly.
>Funny - this. You'd think the political party that is always railing on about
>the "rich" getting all the breaks would be fighting this tooth & nail, but they
>are the ones who've been pushing for it.
Maybe because they live in places like many parts of California where a jumbo
loan is needed for a 3 bedroom rancher?
Banty
Posted by Rick Blaine on January 28, 2008, 9:00 am
>>Funny - this. You'd think the political party that is always railing on about
>>the "rich" getting all the breaks would be fighting this tooth & nail, but they
>>are the ones who've been pushing for it.
>Maybe because they live in places like many parts of California where a jumbo
>loan is needed for a 3 bedroom rancher?
Yep. Same motivation as getting rid of that "evil" AMT soak the rich tax.
Posted by Banty on January 28, 2008, 9:39 am
>>>Funny - this. You'd think the political party that is always railing on about
>>>the "rich" getting all the breaks would be fighting this tooth & nail, but
they
>>>are the ones who've been pushing for it.
>>
>>
>>Maybe because they live in places like many parts of California where a jumbo
>>loan is needed for a 3 bedroom rancher?
>Yep. Same motivation as getting rid of that "evil" AMT soak the rich tax.
Then I wonder where you're coming from. The non-indexing of the AMT has lead to
it impacing middle class dual-income families, instead of working to keep those
with enough income and assets to use tax shelters to a great extent still paying
taxes. As originally designed.
Do you think a husband and wife, an engineer and a store manager, are "rich"?
Banty
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>insure these loans, it will take at least six months foir them to get the
>procedures in place to handle jumbo loans.
>Furthermore, they are constrained by the amount of capital they have available
>to make loans - they won't be issuing anywhere near enough to bring rates down
>significantly.
>Funny - this. You'd think the political party that is always railing on about
>the "rich" getting all the breaks would be fighting this tooth & nail, but they
>are the ones who've been pushing for it.