What happened to new jumbo loan limit?

NEW -> Contingent Buyer Assistance Program
SoCalGal:

It is home sales stimulus.

Easy fix for no consolidation of existing mortgage debt. Find another person in the same boat. You buy my house, I buy yours and then swap back again.



Just think 2 home sales for every refinancing to the new conforming jumbo!



irvinefsbo
 
Then the law should be called the "Home Sales Stimulus Act of 2008." It's called the "Economic Stimulus Act of 2008." If refinancers were able to refinance to a lower interest rate, they would have more discretionary income with which to stimulate the economy. I guess this was lost on the politicians who drafted the "Home Sales Stimulus Act of 2008." Maybe the "Moving Van Company Stimulus Act of 2008" would be more accurate.
 
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