Not so fast.  All of this is going to take time to implement.  Some of it may not be as great as the politicians say. ( Can you imagine that?)  Banks have to make a profit and not expose them selves on these loans.  It is possible that some banks may charge a higher interest rate for these high risk loans or put tight restrictions on them.  Remember it still is the banks money.  It is not George Bush personal money that is being lent out.  We will have to sit back and wait to see the final outcome.  It definitely help our economy.  How much is the real question and how quick?

I think it is good but does not solve the core problem of run away government spending

I think I will just park and watch it all unfold.  Who knows what will happen.  Our market has begun to move and without government intervention.  I hope that it doesn't affect rates like Russ mentioned!!

Russ.  I just think it is a band-aid.  I like that is sounds like good news.  I always hate the media and their negativity.

J.

Charlie and Renee.   It's just a wait and see thing.  Most of the people I know are going to pay bills down.  That is not what the money is supposed to be use for.  They need to make it a quartly thing for a year.  This way people can expect it and use it towards goods, but of course I am not an economist.  Just my two cents.

J. 

Hi Jeff,

I thought this was a good package.  It was one of the few times I sent letters to my local congressman to give them my two cents to pass it.  In our industry around here (Central California), conforming loan limits have hindered buyers of spending more than $417k even if they can afford it.  It just seemed like such a drastic interest rate difference with jumbo & non jumbo loans.  Thanks for your point of view.

I believe much of this package is simply an effort to "buy" votes.  The individual checks will help put more flat screen tv's in livingrooms across America but will do little to stimulate the economy.  The increase in loan limits may assist some qualified buyers in purchasing a home that may not have been possible before.  However, it opens the door for people to take on even more debt that they can't afford.  Hopefully, the banks will tighten the requirements to prevent loans that are not sound investments.

Christina.  I suppose with house prices the way they are buy you I can see that.

J.

Calvin  I think it is a band-aid and a way to try and boost the American Psyche.  We will see.

J.

Renee I guess we will have to wait and see.