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brokerdanob
198 Posts |
 Posted - 01/23/2008 : 1:07:58 PM
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I heard on CNBC yesterday that the jumbo limits would be raised in some states by as much as 15%. Anyone know any of the details????
Thanks, |
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brokerdanob
198 Posts |
Posted - 01/23/2008 : 1:19:41 PM
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| btt |
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brokerdanob
198 Posts |
Posted - 01/23/2008 : 1:30:08 PM
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I found this:
http://originatortimes.com/content/templates/standard.aspx?articleid=2773&zoneid=5 |
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lucky1s
3339 Posts |
Posted - 01/23/2008 : 1:42:06 PM
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| Do you mean conforming limits? |
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dkendall1979
8702 Posts |
Posted - 01/23/2008 : 1:44:33 PM
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As much as I'd like to see this happen for my own personal gain, I think it's an extremely near-sighted approach to a far-sighted problem. Encouraging people to continuously go after a bigger house is not a sound solution to the housing crisis. A more sound approach would be to implament these laon limit adjustments for refinance only transactions.
There's a rule in nature that all things will eventually balance themselves out. This is unavoidable. Every action has an equal and opposite reaction, what goes up must come down, etc... Combatting an over-influx in appreciation with lower rates will only drag out the problem longer than we need it to be dragged out.
As cold as it sounds, the only way out of this mess is to let everyone that doesn't belong in the house they bought for no money down, with a 580 fico score, stated, DEFAULT. Let the banks continue to close down. Let nature go back to an equal balance. Let the dollar go back to where it should be, get our buying power back, make our paychecks worth something, and get it done ASAP. You can't avoid the inevitable, you can only deter it for a period of time.
Investors should be buying as many houses as they can right now and renting them to those that lost theirs to foreclosure. Capitalism will prevail, as long as the gov't stays out of it. There's no law that can be passed, no bill that can make it through congress, no speech that will save us and certainly no candidate who can bring us out of this mess unharmed. It's time for people to pay for their mistakes, the homeowners, the banks, the investors, everyone. Hopefully we learn from this and don't repeat it all over again in 10yrs. However, that's probably not going to be the case, as history would dictate.
The gov't can only prolong the damage, they need to stay out of this one. They have no business in business. Business is self-regulating. |
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