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.
3:23 spewed ” Plenty of Cheney’s income was NOT SALARY”
Oh yeah the rich pay an unfair share of taxes on SALARY but don’t consider other income buried in shelters as taxable income. How much of non taxable sheltered income do the poor have?
3:26 – i guess that you mean the middle class. I say that in this day and age, there is no difference between the middle class and the poor. When you are talking about people who pocket billions of dollars from the govt, is there much a difference between someone making $25K or another making $65K?
“No he is earning a very good salary each year that he stashes into tax shelters to reduce his effective tax rate to 16-20%.”
You are hilarious. I suppose you normally BS ignorant people and then it works. Not here.
wrong 3.22, unless you have control over the form of the income paid to you you do NOT have those options. You are being disingenuous in order to win the argument. Its quite clear which group the tax burden falls on, it ain’t the rich and it aint the poor.
3.17 will never understand even if you draw him a picture.
Jeeze, the tards here. Plenty of Cheney’s income was NOT SALARY – thus he’s able to get a LOWER TAX RATE. I’m SHOUTING because you seem hard of hearing. We all know the actual rich pay a lower rate becuase the bulk of their income ISNT SALARY. GEDDDDIT!!!
3:15 says – “my wife and I earn 250K. We rent, in a market-rate apartment. we have 2 kids, one of whom is home with a childcarer and the other one is in a private school (special needs, before someone starts slamming me). we do not get any of those tax breaks mentioned here, other than I can contribute to a 401K and get a whopping 3% match from my employer. we pay an effective tax rate of about 38%…..”
You are a moron who needs to see an accountant and investment advisor immediately.
Just because you have horrible money management skills doesnt mean other people also do. You are throwing tons of money away by being an uninformed moron.
My wife and I are brownstone owners. We are both school teachers who make about 65K/y. Our mortgage is about 620K & we are hoping that the change in jumbo rates will help, even if a little. The break is designed to help us, neither rich nor poor. Not sure it ultimately will…
Most of the above comments, all full of bile and class rage of one kind or another, sound desperate and silly.
3.15 – fairy tales are on the children’s blogs.
Hmm – lets see some examples of effective tax rates:
“The Bushes paid 27.7 percent of their adjusted gross income in federal income taxes. The Cheneys, whose income was much larger, paid 19 percent of their adjusted gross income, though when their income from tax-exempt bonds is considered, the Cheneys’ effective tax rate was 12.7 percent. ”
Oh yeah not possible is it????