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.
Peolpe having SALARIES over 150K in NY have the highest tax burden in the country when you factor in NYC and NY taxes.
The 16-20% guy is talking nonsense. He must be thinking of people getting dvidend income and the like.
its pretty clear if you look at the data, rather than looking in your favorite-bias drawer, that people in the 150-275K income range pay a higher percent of their income in taxes than any other group. Less of the richer “earn” their income so they pay a lower percentage tax, and the poorer have progressivley lower income tax rates.
I’m lucky enough to earn a good income and would love to know how some of the posters hear think you can get your taxes down to 16-20%. My effective income tax rate is always 35%-40%. That excludes social security taxes and medicate taxes which the government says aren’t really taxes. Also excludes sales taxes and real estate taxes (which you lose deductions for as income increases) and the hidden tax in all the purchases we make caused by corporate income taxes. The year I bought my house I think my effective tax rate was over 50% given the mortgage recording tax and the “mansion” tax.
Speaking of which, if Chuck Schumer and Charles Rangel etc. want to help troubled Borrowers in New York, they might think about getting rid of the mortgage recording tax, which also often applies to refinancings.
Oh yes 2.24, the secret and cunning methods of the evil faceless rich. Guess what, theres an infomerical on the tube right now telling you how to become a millionaire without working for it!
2:37 you say “The working middle class supports this country, not the poor”
There is no difference betweenthe working middle class and the poor any more. They are the smae thing in the eyes of the uber wealthy who control and run our govt.
Do you think that the guys who are sifoning off billions thru oil companies and defense contractors can notice a difference between the working middle class and the poor?
The only group who sees a difference between the working middle class and the poor are the working middle class.
There must be a million homes in NYC over 750K.
*****Breaking***********Breaking***********Breaking***********Breaking***********Breaking***********Breaking***********Breaking***********Breaking***********Breaking***********Breaking***********Breaking******
The Gov is a PIMPI!!!!!!!!!!!!!!
http://nytimes.com/
Spitzer Is Linked to Prostitution Ring
OH Shit!!!!! LMMFAO
The What
Someday this war is gonna end……….
I’m rich by the laughable comments on this board!
I’m no republican, but I’m not a democrat either. I already stated that.
2.26 – your the one whining about the jumbo loans are you not?
The working middle class supports this country, not the poor, who, like in any country that provides welfare, section 8, 10% income taxes for low earners, medicare EIC etc, take more from the government than they give. Thats ok, but just don’t be down on those who actually pay for it.