Conforming limit to $700,000?

[sd_bear]

I just re-read the article and can no longer find where it says anything about conforming limits being raised. Did they scrap this? I’m having trouble finding anything about it now from current articles.

Please please please please please don’t raise those limits. They should be dropped to 300k.

[cr]

That would be directly inline with how the limits are set. I believe roughly double the national median price which has fallen for the fist time in recorded history and will continue to do so.

Eventually, pyobably once the “prime” smortgage-bourg dwarfs the sub-prime spilt milk, the foolish powers that be will realize making more money available isn’t the answer.

[cr]

That would be directly inline with how the limits are set. I believe roughly double the national median price which has fallen for the fist time in recorded history and will continue to do so.

Eventually, pyobably once the “prime” smortgage-bourg dwarfs the sub-prime spilt milk, the foolish powers that be will realize making more money available isn’t the answer.

[cr]

That would be directly inline with how the limits are set. I believe roughly double the national median price which has fallen for the fist time in recorded history and will continue to do so.

Eventually, pyobably once the “prime” smortgage-bourg dwarfs the sub-prime spilt milk, the foolish powers that be will realize making more money available isn’t the answer.

[cr]

That would be directly inline with how the limits are set. I believe roughly double the national median price which has fallen for the fist time in recorded history and will continue to do so.

Eventually, pyobably once the “prime” smortgage-bourg dwarfs the sub-prime spilt milk, the foolish powers that be will realize making more money available isn’t the answer.

[cr]

That would be directly inline with how the limits are set. I believe roughly double the national median price which has fallen for the fist time in recorded history and will continue to do so.

Eventually, pyobably once the “prime” smortgage-bourg dwarfs the sub-prime spilt milk, the foolish powers that be will realize making more money available isn’t the answer.

[XBoxBoy]

I can’t find the reference to raising the conforming limits in the above article either. Does look like it got removed. However searching news with google for conforming does get many hits, including this one:
http://www.forbes.com/afxnewslimited/feeds/afx/2008/01/24/afx4570780.html

Which includes this bit of info:

House Financial Service Chairman Barney Frank, a Massachusetts Democrat, said he expects the measure would increase the value of mortgages that mortgage giants Fannie Mae and Freddie Mac can buy.

Specifically, Frank said Fannie and Freddie would be able to buy mortgages worth up to 125 pct of the median value of a home in any given region, up to a new limit of 730,000 usd. The current limit on so-called conforming loans is 417,000 usd.

The Bush administration has said previously that it opposes this expansion unless it comes with a strengthening of the federal regulator of Fannie and Freddie. However, Frank said he hopes it can still be included based on two assurances from Congress.

So it looks like Frank said that he’s hoping for this. Hopefully it won’t go through.

XBoxBoy

[XBoxBoy]

I can’t find the reference to raising the conforming limits in the above article either. Does look like it got removed. However searching news with google for conforming does get many hits, including this one:
http://www.forbes.com/afxnewslimited/feeds/afx/2008/01/24/afx4570780.html

Which includes this bit of info:

House Financial Service Chairman Barney Frank, a Massachusetts Democrat, said he expects the measure would increase the value of mortgages that mortgage giants Fannie Mae and Freddie Mac can buy.

Specifically, Frank said Fannie and Freddie would be able to buy mortgages worth up to 125 pct of the median value of a home in any given region, up to a new limit of 730,000 usd. The current limit on so-called conforming loans is 417,000 usd.

The Bush administration has said previously that it opposes this expansion unless it comes with a strengthening of the federal regulator of Fannie and Freddie. However, Frank said he hopes it can still be included based on two assurances from Congress.

So it looks like Frank said that he’s hoping for this. Hopefully it won’t go through.

XBoxBoy

[XBoxBoy]

I can’t find the reference to raising the conforming limits in the above article either. Does look like it got removed. However searching news with google for conforming does get many hits, including this one:
http://www.forbes.com/afxnewslimited/feeds/afx/2008/01/24/afx4570780.html

Which includes this bit of info:

House Financial Service Chairman Barney Frank, a Massachusetts Democrat, said he expects the measure would increase the value of mortgages that mortgage giants Fannie Mae and Freddie Mac can buy.

Specifically, Frank said Fannie and Freddie would be able to buy mortgages worth up to 125 pct of the median value of a home in any given region, up to a new limit of 730,000 usd. The current limit on so-called conforming loans is 417,000 usd.

The Bush administration has said previously that it opposes this expansion unless it comes with a strengthening of the federal regulator of Fannie and Freddie. However, Frank said he hopes it can still be included based on two assurances from Congress.

So it looks like Frank said that he’s hoping for this. Hopefully it won’t go through.

XBoxBoy

[XBoxBoy]

I can’t find the reference to raising the conforming limits in the above article either. Does look like it got removed. However searching news with google for conforming does get many hits, including this one:
http://www.forbes.com/afxnewslimited/feeds/afx/2008/01/24/afx4570780.html

Which includes this bit of info:

House Financial Service Chairman Barney Frank, a Massachusetts Democrat, said he expects the measure would increase the value of mortgages that mortgage giants Fannie Mae and Freddie Mac can buy.

Specifically, Frank said Fannie and Freddie would be able to buy mortgages worth up to 125 pct of the median value of a home in any given region, up to a new limit of 730,000 usd. The current limit on so-called conforming loans is 417,000 usd.

The Bush administration has said previously that it opposes this expansion unless it comes with a strengthening of the federal regulator of Fannie and Freddie. However, Frank said he hopes it can still be included based on two assurances from Congress.

So it looks like Frank said that he’s hoping for this. Hopefully it won’t go through.

XBoxBoy

[XBoxBoy]

I can’t find the reference to raising the conforming limits in the above article either. Does look like it got removed. However searching news with google for conforming does get many hits, including this one:
http://www.forbes.com/afxnewslimited/feeds/afx/2008/01/24/afx4570780.html

Which includes this bit of info:

House Financial Service Chairman Barney Frank, a Massachusetts Democrat, said he expects the measure would increase the value of mortgages that mortgage giants Fannie Mae and Freddie Mac can buy.

Specifically, Frank said Fannie and Freddie would be able to buy mortgages worth up to 125 pct of the median value of a home in any given region, up to a new limit of 730,000 usd. The current limit on so-called conforming loans is 417,000 usd.

The Bush administration has said previously that it opposes this expansion unless it comes with a strengthening of the federal regulator of Fannie and Freddie. However, Frank said he hopes it can still be included based on two assurances from Congress.

So it looks like Frank said that he’s hoping for this. Hopefully it won’t go through.

XBoxBoy

[Coronita]

Let's see….

Didn't someone recently make a comment about nationalization of housing?

If anyone thinks this is a good thing then I would heartily disagree. Those who keep thinking that nothing can be done to stop the depreciation cycle may be correct. Yet moves like this, political incentivization programs and the likes will indeed drag the cycle out a heck of alot longer.

Death by a thousand arrows guys.

*******

Like others, this would help me bigtime. The better rate I can get and lower payment I can get, all the better. I would take it in a minute. Yet to think that this is not anything but further subsidization of the market by our government is foolish. So basically in a roundabout manner, your taxes insure more and more crap and higher limits! Hooray!

 

I might have come across the wrong way on my previous post…..Frankly, I don't think this would be the "right" thing do or a "good" thing to do on a global scale. But frankly, seeing how things are going, I don't foresee our government doing the right thing on anything for a long long time… So  to reiterate, from a selfish perspective, it would be a "good/welcome" thing for my particular situation, as anything that helps me would be welcome. Yes, it's stinks for younger generations, and one can only hope that one day we(the nation) will wake up and realize we're a nation in deep debt.

The most frustrating aspect is I see handouts left and right…possibly for irresponsible people….. at my expense. Government encouraging arm holding arm rests, this rebate check refund, increased war spending, and so on so on. And now folks like Pelosi want to add even "more taxes" for "rich". Really rich people don't get hit with taxes. Wage slaves that make slightly above what government thinks as "middle class" but nevertheless actually have to work, pay the most taxes. So at this point, any break would be well received from a selfish perspective.  I know our tax bills are going to go up significantly post 2008. Not that I even mind paying higher taxes if it was actually going towards productive solutions…But I'm sick of the government playing robin hood.

 

 

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Let's see….

Didn't someone recently make a comment about nationalization of housing?

If anyone thinks this is a good thing then I would heartily disagree. Those who keep thinking that nothing can be done to stop the depreciation cycle may be correct. Yet moves like this, political incentivization programs and the likes will indeed drag the cycle out a heck of alot longer.

Death by a thousand arrows guys.

*******

Like others, this would help me bigtime. The better rate I can get and lower payment I can get, all the better. I would take it in a minute. Yet to think that this is not anything but further subsidization of the market by our government is foolish. So basically in a roundabout manner, your taxes insure more and more crap and higher limits! Hooray!

 

I might have come across the wrong way on my previous post…..Frankly, I don't think this would be the "right" thing do or a "good" thing to do on a global scale. But frankly, seeing how things are going, I don't foresee our government doing the right thing on anything for a long long time… So  to reiterate, from a selfish perspective, it would be a "good/welcome" thing for my particular situation, as anything that helps me would be welcome. Yes, it's stinks for younger generations, and one can only hope that one day we(the nation) will wake up and realize we're a nation in deep debt.

The most frustrating aspect is I see handouts left and right…possibly for irresponsible people….. at my expense. Government encouraging arm holding arm rests, this rebate check refund, increased war spending, and so on so on. And now folks like Pelosi want to add even "more taxes" for "rich". Really rich people don't get hit with taxes. Wage slaves that make slightly above what government thinks as "middle class" but nevertheless actually have to work, pay the most taxes. So at this point, any break would be well received from a selfish perspective.  I know our tax bills are going to go up significantly post 2008. Not that I even mind paying higher taxes if it was actually going towards productive solutions…But I'm sick of the government playing robin hood.

 

 

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Let's see….

Didn't someone recently make a comment about nationalization of housing?

If anyone thinks this is a good thing then I would heartily disagree. Those who keep thinking that nothing can be done to stop the depreciation cycle may be correct. Yet moves like this, political incentivization programs and the likes will indeed drag the cycle out a heck of alot longer.

Death by a thousand arrows guys.

*******

Like others, this would help me bigtime. The better rate I can get and lower payment I can get, all the better. I would take it in a minute. Yet to think that this is not anything but further subsidization of the market by our government is foolish. So basically in a roundabout manner, your taxes insure more and more crap and higher limits! Hooray!

 

I might have come across the wrong way on my previous post…..Frankly, I don't think this would be the "right" thing do or a "good" thing to do on a global scale. But frankly, seeing how things are going, I don't foresee our government doing the right thing on anything for a long long time… So  to reiterate, from a selfish perspective, it would be a "good/welcome" thing for my particular situation, as anything that helps me would be welcome. Yes, it's stinks for younger generations, and one can only hope that one day we(the nation) will wake up and realize we're a nation in deep debt.

The most frustrating aspect is I see handouts left and right…possibly for irresponsible people….. at my expense. Government encouraging arm holding arm rests, this rebate check refund, increased war spending, and so on so on. And now folks like Pelosi want to add even "more taxes" for "rich". Really rich people don't get hit with taxes. Wage slaves that make slightly above what government thinks as "middle class" but nevertheless actually have to work, pay the most taxes. So at this point, any break would be well received from a selfish perspective.  I know our tax bills are going to go up significantly post 2008. Not that I even mind paying higher taxes if it was actually going towards productive solutions…But I'm sick of the government playing robin hood.

 

 

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Let's see….

Didn't someone recently make a comment about nationalization of housing?

If anyone thinks this is a good thing then I would heartily disagree. Those who keep thinking that nothing can be done to stop the depreciation cycle may be correct. Yet moves like this, political incentivization programs and the likes will indeed drag the cycle out a heck of alot longer.

Death by a thousand arrows guys.

*******

Like others, this would help me bigtime. The better rate I can get and lower payment I can get, all the better. I would take it in a minute. Yet to think that this is not anything but further subsidization of the market by our government is foolish. So basically in a roundabout manner, your taxes insure more and more crap and higher limits! Hooray!

 

I might have come across the wrong way on my previous post…..Frankly, I don't think this would be the "right" thing do or a "good" thing to do on a global scale. But frankly, seeing how things are going, I don't foresee our government doing the right thing on anything for a long long time… So  to reiterate, from a selfish perspective, it would be a "good/welcome" thing for my particular situation, as anything that helps me would be welcome. Yes, it's stinks for younger generations, and one can only hope that one day we(the nation) will wake up and realize we're a nation in deep debt.

The most frustrating aspect is I see handouts left and right…possibly for irresponsible people….. at my expense. Government encouraging arm holding arm rests, this rebate check refund, increased war spending, and so on so on. And now folks like Pelosi want to add even "more taxes" for "rich". Really rich people don't get hit with taxes. Wage slaves that make slightly above what government thinks as "middle class" but nevertheless actually have to work, pay the most taxes. So at this point, any break would be well received from a selfish perspective.  I know our tax bills are going to go up significantly post 2008. Not that I even mind paying higher taxes if it was actually going towards productive solutions…But I'm sick of the government playing robin hood.

 

 

 

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Author]

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