Why aren’t jumbo loans included in the foreclosure prevention bailout package?
Seems to me those people need a place to live too.
Jehen—-Those people can lose their jobs too
Those homes lose more value than others in times like this and the jumbo refi rates are much higher than conventional rates
These answers imply that those that have jumbo loans didn’t overextend themselves, don’t lose their jobs, and can go buy another house after foreclosure. Try getting a loan these days after having your house foreclosed on. These people can be in just as bad shape as those with conventional $ 416,000 mortgages.