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What Should You Do About The Economic Stimulus Act Of 2008?

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What Should You Do About The Economic Stimulus Act Of 2008?

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The new conforming loan law known as HR 5140, the Economic Stimulus Act of 2008 was signed by President Bush just before Valentine’s Day. The new law will temporarily raise the amount of Conforming Loans to 125% of the average home price for any particular area. This is exciting news for any home buyers or owners. Conforming loans have a lower interest rate and are easier to qualify for than their big brother the jumbo loan. At this point in time there are a lot of questions as to when this loan will become available to us. Although President Bush has already signed the bill, there are steps that the government must take before people will be able to acquire this type of loan. At the time of this article, the Federal Government is still working on determining what the average home prices are in the various communities in the United States of America. Once this report has been completed, the conforming loan increase should be available to home buyers shortly thereafter. Our latest estim

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