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Distressed $1 million-plus property sales a ‘warning’ to mortgage holders – The distressed sale of a $2.5 million luxury townhouse with sweeping. Houses and apartments purchased for millions of dollars are being put under the hammer because owners can no longer afford.
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A mortgage is generally considered a Jumbo Loan when it exceeds the conforming loan limit, $484,350 in most U.S countries, set by Fannie Mae and freddie mac. super jumbo Loans usually include mortgage amounts over $1 million.
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