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Feeling Stimulated!!
No, I did not take a little blue pill.  I am talking about the economic stimulus package that was passed by both the house and the senate this week.  Everyone expects President Bush to sign the combined bill into law early next week.  The headline information is on the tax rebates, which I think are a mistake, and how much money we Americans can borrower from ourselves to help stimulate the economy.  My question is what happens in 2009 when everyones tax refund is reduced by the amount of the "rebate" ( call it what it is and that is a LOAN!) they received now? How do we stimulate the economy then?
More importantly is the verbiage that will have an effect on the real estate industry.  First we have the definite increase to FHA loan limits up to the conforming limit of $417,000 ( maybe higher in some cases).  I think this is the most important part of the bill that could help the industry.  The reason is the under served market from about $205,000 to $417,000 sub-prime loan amounts that can not turn to FHA to bail them out of their self-destructing loans. Due to ever tightening and changing FNMA ... more

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