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Tag Archives: Jumbo Loans
Will the Jumbo Mortgage Loan Squeeze Affect Home Prices?
Starting October 1, the maximum loan amount from Fannie Mae and Freddie Mac will drop from $729,750 to $625,500. Continue reading
Posted in Banking and Finance, Fresh Perspectives, Home Economics, Mortgage News
Tagged Fannie Mae, Freddie Mac, Home Prices, Jumbo Loans
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Strategic Default: Are The Rich Really Different?
If prices continue to stabilize and loan modification programs can find ways to perform better, there is a chance that there won’t be too many high-end defaults here in the East Bay. But, if prices continue to fall and modifications continue to fail at alarming rates, then those considering walking away will have more reasons for doing so.
If, as the Times suggests, the wealthy really are more prone to walking away, then social mood could darken very quickly. If strategic default ever becomes socially acceptable in million-dollar neighborhoods, then look out below. Continue reading
Posted in Banking and Finance, Best Of The Storm, Data, Data, and More Data, Everything About Foreclosures, Home Economics, Social Mood Swings
Tagged Alamo, Alt-A Loans, Class Warfare, Danville, Foreclosures, Jumbo Loans, Los Altos, Mortgage Delinquency Rates, Option-Arm Loans, Orinda, Piedmont, strategic default, Walking Away
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High-End Financing Just Got Easier
Getting financing on expensive properties just got a lot easier. Recently, Wells Fargo has raised it’s combined debt-to-income level on high-end loans to 80%. Well-qualified borrowers can buy a $1,200,000 home with $240,000 down, a $729,000 first loan and a … Continue reading