The Obama Administration is spelling out there economic stimulus plan. It reminds me of the scene from the first Batman movie where the Joker is doing parade down the street throwing a bunch of money to everyone. Now I guess we are all suppose to run out and get as much as we can. The parts of the plan that effects housing is a 50 billion dollar plan to help with loan modifications, and there is a plan to give liquidity to banks to make them start lending.
30 year fixed rate 4.875%
( 5.109% APR )
30 year fixed FHA rate: 4.75%
( 5.115% APR )
Jumbo rate: 5.5%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.838% APR)
Today's News:
Overview of U.S. bank rescue plan
http://uk.reuters.com/article/economyNews/idUKTRE5194H420090210?pageNumber=1&virtualBrandChannel=0&sp=true
We have loan mods!!!! If you are having trouble making payments, or are more than 30% upside down in your mortgage please email me: hughvh@themortggeguild.com
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