Is a 25-30% Down Payment Acceptable for New Fannie Mae Backed Loans for Investors with over 4 mortgages?
Many investors are certainly rejoicing in the fact that they can now go in and purchase some ludicrously-priced houses and get good Fannie Mae-backed loans.
However for investors with between 5 and 10 mortgages, the down-payment requirement is 25-30%. Is that acceptable?
We have all been spoiled rotten when credit was flowing like wine and even investors [...]
Jerry Jackson of the Orlando Sentinel on Fannie Mae Short Sale Pilot
This was sent to me by Liam Gillen, one of our Orlando realtors. it’s an article in the Orlando Sentinel about Fannie Mae running a pilot to speed short sales processes considerably. This holds promise to everyone thinking of doing a short sale. if the pilot succeeds, hopefully the program will become widespread and cut [...]
Release The Fly to Eat The Moth
The economy is in the doldrums. The bailout efforts shift directions and so far neither liquidity nor activity is seen at any meaningful level.
Everyone agrees that the root of all difficulties is HOUSING and HOUSING PRICES. Digging in a little deeper in the most afflicted markets, everyone will tell you that the root of the [...]
