Once the economic stimulus package becomes law, how long until the new Jumbo mortgage is implemented?
Under the economic stimulus package, the amount eligible for a conventional loan would be increased, raising it from $ 417,000 to more than $ 729,000 in some areas.
The question is, how long until that filters down to home buyers and those needing to refinance?
The economic stimulus package has been sent to the President for his signature on the night of February 7th. He has indicated that he will sign it into law.
Savings and Loans approved and loane money to people who truthfully could not afford to pay back, and now the raminding portion of the loan is equal to more than the house appraises at.
Will the Stimulus Package, with interests due, become larger than what our country is worth.
I love my country dearly, but that package is going to destroy the value of our dollar. Do you agree or disagree ?