Chris, the following is an announcement about Freddie changing maximum number of mortgages from 10 to 4.
Ah, folks, this is not good news for many of you. Why? Because it just made getting a conforming loan nearly impossible if you already own four rental properties here in Kansas City and elsewhere. Me no like.
And where Freddie goes Fannie is sure to follow. This seems to follow up on the trend of punishing proven real estate investors for the problems real estate speculators and careless mortgage companies made. It’s like when the NCAA punishes a current team and coaches for the transgressions of the previous coach and team. The statement is made…just to the wrong people.
Tom, also mention that PMI is getting harder and harder to get for the real estate investor. Oy.