Fannie Mae Supersizes You
Last week Fannie Mae and Freddie Mac made it easier for buyers in high-priced areas like New York to get big loans or re-fi their existing ones. Limits for federally backed loans in 70 counties across the U.S. have now been raised to $729,750, according to an article in the Wall Street Journal. The move…
Last week Fannie Mae and Freddie Mac made it easier for buyers in high-priced areas like New York to get big loans or re-fi their existing ones. Limits for federally backed loans in 70 counties across the U.S. have now been raised to $729,750, according to an article in the Wall Street Journal. The move is supposed to encourage lenders to to drop rates on jumbo loans (those over $417,000), which have soared above smaller loan amounts in the wake of the credit crunch. The loan-limit increase, however, will be short-lived: It’s set to expire at the end of this year. Still, this should do more to prop up the economy than tax rebate checks.
Fannie, Freddie Loan Limits Raised [WSJ]
Photo by *andrew.
yea, thats how the rich get their taxes so low “UTMA, SEP, 529, 401K, mortgage interest”!!
LMFAO!
You must be the tWhat trying a new persona for the day.
There is a downloadable document on the Fannie Mae site (loanlimitref.xls) that lists the new conforming loan limits by state/county for multi-family dwellings as well as single family.
For Brooklyn (which they actually list as Kings, as opposed the the NYT), the 2-family limit will be $934,200.
5.32 – “accountants, lawyers, financial advisors” are the people you are talking to here.
5.32 – now put away your monopoly board and money and go back to the Risk game where you take over the world and kill the rich
hey go easy – he’s probably talking about a tax shelter as its understood on the street (not having had any actual interaction with real finance) – not a real tax shelter.
Also I dont need the lessons. I can afford accountants, lawyers, financial advisors.
thanks for paying my fair share of taxes for me guys!
5:13 – great point – you guys are the ones complaining that you pay 40-50% tax rates. I am the one complaining that I pay 16-20%. I guess that I am the one who really needs the lessons in tax shelters.
sep, 401k etc, tax deferred, not a tax shelter.
UTMA is an exlcusion from gift tax, if you’ve earned the money you’re giving you’ve already paid income tax etc etc. zzzzzzzzzz
529s – universally acknowledged to be a losing proposition
What a bozo.
4.36 – just give up, you are making a fool of yourself with you lack of knowledge. Please look up “tax shelter” in your local library.