Marina's Blog

From American Banker (02/10/09)

To speed recovery of the housing market, Fannie Mae will begin purchasing and guaranteeing mortgages for borrowers carrying loans on as many as ten properties (including homestead), up from the current limit of four. Investors must have six months payments in reserve for each mortgaged investment property.  "One of the things that leads the economy out of a housing crisis is when prices get cheap enough that investors start moving in and buying things," says Joe Garrett of the Berkeley, Calif.-based consulting firm Garrett, Watts & Co