This is NOT A DRILL. Take action Now.

I've never been the broker to push or say "Do this now," until now. I like to be positive, upbeat and give hope and solutions. That being said:

The Federal Stimulus "Agency Conforming Jumbo Loans" need to be started NOW.

"But Pat, we've still got six months on our adjustable. We're going to wait. We think rates will get better. We'll wait until September to start it. I don't adjust until February." The truth: You don't have the time.

Here's the deal. The Fed Stimulus loans end December 31st, 2008. They must FUND AND CLOSE by the 31st. So, let's consider the time-line:

1. December is already a loan-logistic disaster due to holidays as is the last half of November.
2. Banks are taking an easy 30 days to receive, underwrite and fund a loan, in fact, some banks are taking 60 to 90 days in underwriting.
3. Add in distractions of elections and projections and guessing.
4. Add the time to get your appraisal and paperwork together.
5. And now consider this: The law of Supply and Demand! Banks will be so over-run with people in a last minute panic to get their loans done before the December cut-off that the banks will artificially INCREASE RATES to slow down the volume.
6. In addition, rates will certainly begin their climb as inflationary concerns force the Fed to raise rates.

Take all this into consideration, do the math of subtracting several months (of the reasons mentioned above), and the answer is to Take Action Now. You've got a short window to take advantage of a unique program. That's GOOD NEWS but only if you actually realized that time is not on your side. Delays could will devastating. Let's talk now: 415-485-1776. Pat Townsley, Mortgage Broker. www.excellenceInRealEstateFinancing.com