Economic Stimulus plan

Mortgage and Lending with TEAMO'CONNOR
They released the details, well some of the details of the economic stimulus plan today. The details relating to the "jumbo-conforming" loans.  And, in my opinion, it dulls the thrust of congress's intent.  Why?  Well for starters only fully documentated loans will be accepted. That centantly cuts into the number of people that will qualify! And then there is "risk-based" pricing.  So....  if they can get away with it they will charge more.  That cuts into the thrust of congress too!  Show me the money!  And by that I mean show me the "pricing!" How soon will you accept? How soon will you fund?  Details at 11:00! 

Comments (2)

Vincent McKamy
Samson Properties - Fredericksburg, VA
Realtor Fredericksburg Virginia
I don't care what congress does - I don't think they have the power to fix what is going on - Only time can fix this.  Good luck
Mar 10, 2008 01:30 PM
Michael O'Connor
Vincent, I believe the market has to work it's own problems out but this stimulus plan is a definate help.  It put the savings from refi's in the borrowers pocket every month not just a one time stimulus check.
Mar 11, 2008 08:22 AM