Jumbo Conforming product ending this year?

D

davenlei_IHB

New member
So, I know that we have three general 30 year fixed products right now.



1) Conforming (max $417K)

2) Jumbo Conforming (max $621K?)

3) Jumbo (sky is the limit)





The jumbo conforming is from something the government passed to help high value areas not collapse. Is this 'program' ending anytime soon? If it is scheduled to end, will the government likely extend it again to stop the mid/upper range from collapsing?
 
House voted on it. Senate has yet to, then off to the President for signing. It's a done deal. Next comes the extension of unemployment benefits due to expire in September, then the re-authorization of the 1st time home buyer credit which expires late November.



My .02c



Soylent Green Is People
 
[quote author="Soylent Green Is People" date=1250142562]House voted on it. Senate has yet to, then off to the President for signing. It's a done deal. Next comes the extension of unemployment benefits due to expire in September, then the re-authorization of the 1st time home buyer credit which expires late November.



My .02c



Soylent Green Is People</blockquote>


And the state tax credit of $10,000 for new homes....
 
[quote author="IrvineRenter" date=1250143626][quote author="Soylent Green Is People" date=1250142562]House voted on it. Senate has yet to, then off to the President for signing. It's a done deal. Next comes the extension of unemployment benefits due to expire in September, then the re-authorization of the 1st time home buyer credit which expires late November.



My .02c



Soylent Green Is People</blockquote>


And the state tax credit of $10,000 for new homes....</blockquote>


thankfully, the state is busto, so that one may not happen.
 
[quote author="freedomCM" date=1250147287][quote author="IrvineRenter" date=1250143626][quote author="Soylent Green Is People" date=1250142562]House voted on it. Senate has yet to, then off to the President for signing. It's a done deal. Next comes the extension of unemployment benefits due to expire in September, then the re-authorization of the 1st time home buyer credit which expires late November.



My .02c



Soylent Green Is People</blockquote>


And the state tax credit of $10,000 for new homes....</blockquote>


thankfully, the state is busto, so that one may not happen.</blockquote>
Since when has that stopped a government organization from spending more money?
 
[quote author="awgee" date=1250147559][quote author="freedomCM" date=1250147287][quote author="IrvineRenter" date=1250143626][quote author="Soylent Green Is People" date=1250142562]House voted on it. Senate has yet to, then off to the President for signing. It's a done deal. Next comes the extension of unemployment benefits due to expire in September, then the re-authorization of the 1st time home buyer credit which expires late November.



My .02c



Soylent Green Is People</blockquote>


And the state tax credit of $10,000 for new homes....</blockquote>


thankfully, the state is busto, so that one may not happen.</blockquote>
Since when has that stopped a government organization from spending more money?</blockquote>


Print baby print.
 
when the state does it, it is called IOUs, and they didn't seem to go over so well.





my bet is the state does not renew the program (it was lousy to begin with, plus there are few new houses for sale these days)



but that the fed credit gets extended, and increased in value
 
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