Jumbo Mortgages

Some articles on mortgages, mortgage, jumbo mortgages, jumbo:

Economic Stimulus Act Of 2008 - Rationale
... Lawmakers raised the limits on conforming mortgages eligible for government insurance and GSE purchase in response to the subprime mortgage crisis ... The credit crunch led to a reluctance by lenders to issue so-called jumbo mortgages for the purchase of houses that exceeded the FHA and GSE limits ... As interest rates rose for jumbo mortgages, fewer buyers could afford them, and house prices were being forced down toward the limits for conforming ...
Jumbo Mortgage - Role in US Housing Bubble
... rose as part of the United States housing bubble, there was a large increase in the number of jumbo loan applicants ... Due to rising prices, many consumers had to take out jumbo mortgages in order to buy modest homes in big-city areas this option was no longer limited to high-end luxury residences ... That meant that the jumbo loan borrower would pay the loan back over a longer period of time, or could defer any repayment of principal for a few years (thereby ...

Famous quotes containing the word jumbo:

    I’m a priest, not a priestess.... “Priestess” implies mumbo jumbo and all sorts of pagan goings-on. Those who oppose us would love to call us priestesses. They can call us all the names in the world—it’s better than being invisible.
    Carter Heyward (b. 1946)