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February 10, 2008
Loan Limits
Is it True?
Comments
Sky Blue. Is it True?
Posted by: guest at February 10, 2008 4:56 PM
I think he is talking about the limits on Jumbo and FHA loans being raised.
Yes it is true - for 1 year only and once Pres. Bush signs into law which will be probably this week.
Posted by: guest at February 10, 2008 7:32 PM
It is probably going to happen, but even if it does it could take a while (months not weeks) to update models that underwriters use to approve/finalize loans.
I read somewhere (not sure where, sorry, but perhaps someone can verify) that summer is the earliest that consumers could actually partake in the new rules.
Posted by: guest at February 11, 2008 12:05 PM
Yep, its true.
http://www.youtube.com/watch?v=bb8akXtOCaI
Posted by: guest at February 11, 2008 12:20 PM
if it's true, the brownstoner forum might not be the most reliable source to confirm it.
Posted by: z at February 11, 2008 1:16 PM
I just got a three million dollar loan.
Posted by: guest at February 11, 2008 3:00 PM
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