Jumbo Mortgage Loans Return
Its early 2010 a new decade and new president. Consumers are still facing financial difficulties with un-employment being high. There is however a silver lining in the storm clouds of the last 3 years.
The goverment has intervened by buying up long and short term debt. This is creating some long needed liquidity in the system that up till now has been clogged.
Jumbo mortgage loans are loan in excess of conforming values. In california its anything over $417,000. Finally consumers that carry large mortages can find some relief. Many jumbo mortage customers have interest rates that exceeds 6% or 7% . With interest rates available in the mid 5’s this can translate into great savings. For many of our borrowers this means thousands of dollars going nt their pockets each month.
As consumers start to refinance it will free up disposable income. When a borrower can save $500-$2500 per month this allows them the freedom to purchase products that will help the economy move along. These items may include big ticket items such as automobiles, electronics. This money can also trickle down into restaurants, grocery stores and a lot of mom and pop businesses.
We are providing a vital service to the economy. Saving borrowers thousands in fees and interest but also allowing more disposable income into their hands. The economy needs it and in the end we all benefit.
Written by http://ekvfinancial.com
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