Increasing the jumbo mortgage limit

NEW -> Contingent Buyer Assistance Program
<p><em>"Other suggestions?"</em></p>

<p>A constitutional ammendment getting rid of the "general welfare" clause in The Constitution. Get rid of the Federal Reserve and get rid of the IRS. And then go to lunch. After lunch, get rid of the NEA, Dept. of Education, corporate welfare, etc. etc. etc.</p>
 
Um... awgee = Libertarian? :D





I'm partial to a true flat rate income tax system + small subsidies (separate from income tax). Under such scheme all deductions, exemptions, etc. would be removed. All legal citizens will receive a small minimum income -- if you want to be a hippie and live out of a VW van on few hundred bucks a month, you're free to do so. Any amount you make from a job, you pay a simple flat tax where your annual individual tax return form would fit on a single piece of paper.





The small subsidies will guarantee that you wouldn't starve, as we're a humane society & will feed its own people. Beyond that, you're on your own until 65.





But that would put so many accountants, tax attorneys, IRS agents, turbotax employees, etc. out of work.
 
<p>Anon - Please consider "<em>all the benefits for older folks untouched" </em>included in the etc. etc. etc.</p>
 
<p>Banks: Do you like Green Eggs and Ham? Would you like them here (Fannie) or there (Freddie) ?</p>

<p>Ease Capital Requirements for Fannie?


Thursday February 7, 7:27 pm ET


By Marcy Gordon, AP Business Writer </p>

<p>















Senators Suggest Easing Capital Restraints on Fannie in Exchange for Helping Homeowners </p>

<p>http://biz.yahoo.com/ap/080207/fannie_freddie_congress.html?.v=3</p>
 
I live in Spokane, WA. Our local press tells us frequently that our area has been spared from the real estate crises. My wife works in a hospital recovery room so she knows a lot of high income doctors. She asked one of the anesthesiologists if he had closed his new house. His answer was, "Funny you should ask that. The banking crises is real." He sold his house a year ago and put most of his equity into building a custom house. He has been renting in the meantime. He went to close the new house last week and was told that he couldn't get his mortgage unless he came up with another $60K, which would get his loan down to the conforming limit. (417K) He"ll manage it of course, but I thought it was a great story. He doesn't have an equity or down payment problem; Jumbo loans are hard to come by.
 
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