4 mortgage limit lifted by Fannie Mae

I recently viewed a real estate presentation.   The speaker was visibly perturbed by the recent decision of Fannie Mae to limit investors to 4 mortgages.  His point was that experienced investors will help the housing recovery by buying the REO/foreclosed properties and holding them.  Helping clear the inventory of bank owned properties on the market [...]

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Loan modifications for the non-delinquent

Some of us already knew it was possible to get a bank to do a loan modification prior to delinquency, now Fannie Mae joins the party.  Kenneth Harney’s column in the Sunday San Francisco Chronicle announced that Fannie Mae will allow borrowers to request alterations to their mortgage even if they have never been late. [...]

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Changes in the mortgage market

The mortgage market, particularly with the take over of Fannie Mae and Freddie Mac by the US government, continues to be in flux. If you own more than 4 properties or want to do a cash out refi: watch this mortgage market update. Disclaimer: I am not recommending this business. However I have talked to [...]

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Financed a real estate property lately?

Have you tried to finance or re-finance a property lately? It’s a different world. A reader’s question featured in the Benny Kass column wondered if the lenders would laugh in their face if they applied for a home equity line. Since all they have in equity is the down payment they made a year ago, [...]

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