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LUMINENT MTG CAP INC Message Board

  • cidy_love cidy_love Jan 30, 2008 3:07 AM Flag

    House approves economic recovery plan

    From the press: the House, seizing a rare moment of bipartisanship to respond to the economy's slump, overwhelmingly passed a $146 billion aid package Tuesday. The plan, approved 385-35 after little debate. To address the mortgage crisis, the House bill would raise the limit on Federal Housing Administration loans from $362,790 to as high as $729,750 in expensive areas, allowing more subprime mortgage holders to refinance into federally insured loans. To widen the availability of mortgages nationwide. It's another great day for the Mortgage sector.

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