Conforming limit to $700,000?

[kev374]

Without stated income, Interest only and NegAm products this increase in the cap is totally meaningless.

The only reason people could afford these houses was because of the exotic financing and FHA doesn’t do that.

This deck of cards is coming down and no matter what anyone does it WILL come down.

[sd_bear]

This raises the limits 125% from the median price in an area. If San Diego’s median price is only 430k now this means that the new cap is going to be 537.5k here. Not as bad as the 730k we keep seeing in the news, but still not a good thing.

[sd_bear]

This raises the limits 125% from the median price in an area. If San Diego’s median price is only 430k now this means that the new cap is going to be 537.5k here. Not as bad as the 730k we keep seeing in the news, but still not a good thing.

[sd_bear]

This raises the limits 125% from the median price in an area. If San Diego’s median price is only 430k now this means that the new cap is going to be 537.5k here. Not as bad as the 730k we keep seeing in the news, but still not a good thing.

[sd_bear]

This raises the limits 125% from the median price in an area. If San Diego’s median price is only 430k now this means that the new cap is going to be 537.5k here. Not as bad as the 730k we keep seeing in the news, but still not a good thing.

[sd_bear]

This raises the limits 125% from the median price in an area. If San Diego’s median price is only 430k now this means that the new cap is going to be 537.5k here. Not as bad as the 730k we keep seeing in the news, but still not a good thing.

[XBoxBoy]

This raises the limits 125% from the median price in an area.

So if San Diego’s median price drops, does that mean the max conforming loan will drop too? I can hear the real estate agents now, “Better buy now before prices drop, and you can’t get a conforming loan!”

XBoxBoy

[XBoxBoy]

This raises the limits 125% from the median price in an area.

So if San Diego’s median price drops, does that mean the max conforming loan will drop too? I can hear the real estate agents now, “Better buy now before prices drop, and you can’t get a conforming loan!”

XBoxBoy

[XBoxBoy]

This raises the limits 125% from the median price in an area.

So if San Diego’s median price drops, does that mean the max conforming loan will drop too? I can hear the real estate agents now, “Better buy now before prices drop, and you can’t get a conforming loan!”

XBoxBoy

[XBoxBoy]

This raises the limits 125% from the median price in an area.

So if San Diego’s median price drops, does that mean the max conforming loan will drop too? I can hear the real estate agents now, “Better buy now before prices drop, and you can’t get a conforming loan!”

XBoxBoy

[XBoxBoy]

This raises the limits 125% from the median price in an area.

So if San Diego’s median price drops, does that mean the max conforming loan will drop too? I can hear the real estate agents now, “Better buy now before prices drop, and you can’t get a conforming loan!”

XBoxBoy

[Ex-SD]

Buyers will still have to get an appraisal, cough up a down payment and they can’t use a liar loan to qualify for what is still over-priced housing when compared to most markets in the country. Add to this, San Diego has been designated as a “declining market” which means the buyer has to cough up more money and jump through more hoops before the loan can close.

Frankly, the only people that I see who are going to be helped by this are people with decent credit who are current on their payments and who need to re-finance if the loan is under the new limits (provided the home hasn’t already dropped too much in value from when they bought it)……..or a buyer who buys into all the hype that NAR and CAR will start slinging and goes shopping for a home with his wallet in his mouth for the scabs to steal.

It’s not going to make a dent in the myriad of problems that plague the housing market in the bubble markets. Prices will continue to fall as more and more sellers give up and phase out of the denial stage and move into acceptance.

[Ex-SD]

Buyers will still have to get an appraisal, cough up a down payment and they can’t use a liar loan to qualify for what is still over-priced housing when compared to most markets in the country. Add to this, San Diego has been designated as a “declining market” which means the buyer has to cough up more money and jump through more hoops before the loan can close.

Frankly, the only people that I see who are going to be helped by this are people with decent credit who are current on their payments and who need to re-finance if the loan is under the new limits (provided the home hasn’t already dropped too much in value from when they bought it)……..or a buyer who buys into all the hype that NAR and CAR will start slinging and goes shopping for a home with his wallet in his mouth for the scabs to steal.

It’s not going to make a dent in the myriad of problems that plague the housing market in the bubble markets. Prices will continue to fall as more and more sellers give up and phase out of the denial stage and move into acceptance.

[Ex-SD]

Buyers will still have to get an appraisal, cough up a down payment and they can’t use a liar loan to qualify for what is still over-priced housing when compared to most markets in the country. Add to this, San Diego has been designated as a “declining market” which means the buyer has to cough up more money and jump through more hoops before the loan can close.

Frankly, the only people that I see who are going to be helped by this are people with decent credit who are current on their payments and who need to re-finance if the loan is under the new limits (provided the home hasn’t already dropped too much in value from when they bought it)……..or a buyer who buys into all the hype that NAR and CAR will start slinging and goes shopping for a home with his wallet in his mouth for the scabs to steal.

It’s not going to make a dent in the myriad of problems that plague the housing market in the bubble markets. Prices will continue to fall as more and more sellers give up and phase out of the denial stage and move into acceptance.

[Ex-SD]

Buyers will still have to get an appraisal, cough up a down payment and they can’t use a liar loan to qualify for what is still over-priced housing when compared to most markets in the country. Add to this, San Diego has been designated as a “declining market” which means the buyer has to cough up more money and jump through more hoops before the loan can close.

Frankly, the only people that I see who are going to be helped by this are people with decent credit who are current on their payments and who need to re-finance if the loan is under the new limits (provided the home hasn’t already dropped too much in value from when they bought it)……..or a buyer who buys into all the hype that NAR and CAR will start slinging and goes shopping for a home with his wallet in his mouth for the scabs to steal.

It’s not going to make a dent in the myriad of problems that plague the housing market in the bubble markets. Prices will continue to fall as more and more sellers give up and phase out of the denial stage and move into acceptance.

[Author]

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