As of August 1st, 2008 the new mortgage guidelines will limit the number of properties a borrower can own to four 1-4 unit mortgaged properties. This will include any owner occupied or second homes added to any newly mortgaged property one desires to purchase in the future. Freddie Mac will not count the number of mortgages on a property, first and second mortgages will be counted as one. Formerly investors… Keep reading
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Freddie Mac changes mortgage rules, no cash out refinancing.
Published by April 23rd, 2008 in Breaking News and Finance/Economy. 0 CommentsMortgage Principal Reductions: Is the Titanic Sinking? by Jonas Clark
Published by April 14th, 2008 in Breaking News and Finance/Economy. 1 CommentBankers are in panic mode. Financial ships are sinking with all hands on deck trying to plug the massive cracks before it’s too late. I wanted you to read the latest proposal on mortgage principal reductions made to the US House of Representatives because of upside down mortgages. It reads:
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