Home Ownership Builds Wealth

Click on the photo  to  play a video which can help build your wealth. This video was prepared by the National Association of Realtors.

Mortgages Maximums To Be raised.

Economic Stimulus Plan passed Congress on  February 8, 2008

Middle to upper income Americans will benefit from the economic rescue plan that passed the U.S. Congress and awaits President Bush’s signature . they will be able to refinance their jumbo home loans at cheaper rates.

The stimulus package temporarily raises the maximum size of mortgages that Fannie Mae and Freddie Mac can purchase and market as securities from $417,000 to as high as $729,750 in expensive parts of the country like New York City and California.

It makes a similar change for loans backed by the Federal Housing Administration, which insures loans to borrowers with weak credit.

If you sell your current homestead and buy a replacement homestead property, here's how the 2008 Tax Exemption Portability law works.