[Bring_Back_Shantz]

Originally Posted by PowerPlayoffs06

This kinda screws my wife and I over. We were just looking to get our of our small one bedroom apartment and buy a home to have our first child in. We were looking for around 320k and just found out about 10 minutes ago that because of these new rules that if we don't have a firm purchase agreement before March 18th, we can only amortize for 30 years and thus qualify for about 30k less after that date. So we'd have to sell our apartment and have a finalized purchase on our own new home all within 2 months. =/

No offence dude, but how is that getting screwed?
It's people that were overextending themselves by getting 35 year mortgages that got the everyone in this mess in the first place.
Maybe having to get a house for 30k less over 30 years isn't such a bad thing.