Attention real estate investors with more than four properties! I just received this from Stacey Taylor of Countrywide Home Loans in Olathe, Kansas.
Product Modification: Maximum Number of Financed Properties for Conforming and Non-Conforming Programs
- The effective date has been postponed. There is NO effective date at this time.
- A CMD Notify will be sent once the effective date is confirmed.
- See CTM 1.4 for current guidelines on financed properties.
The long and the short of this is that you should have less of a hassle trying to buy another investment property if you already own 4 or more income properties. So go to town…within reason, of course.