Congress Passes Higher Loan Limit Extension for Federally-Backed Mortgages

Tuesday, December 1st, 2009

DSNEWS.COM Legislation was approved by both the House and Senate Thursday that extends the higher loan limits currently in place for mortgages backed by Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA). Lawmakers temporarily raised the limits for these federally-funded home loans back in 2008 as part of a national economic stimulus package, to $729,750 for high-cost areas. But that increase was set to expire at the end of this year, dropping the size of loans eligible for GSE and FHA funding to $625,500. The new… read more.

Protecting Yourself When You Buy

Tuesday, September 29th, 2009

Eight Tips for Protecting Yourself When You Buy a House Michele Dawson Realty Times If you’re getting ready to buy a house during what is typically the busiest buying and selling time of the year, then offers may be flying, loans may seem confusing, and everything may be moving way too fast. That’s why it’s important to do everything you can to protect yourself … read more.

What To Do When Your Bank Won’t Finance More Than 4 Properties

Friday, May 15th, 2009

Even Though Fannie Mae Allows It Dan Green themortgagereports.com In February 2009, Fannie Mae rescinded a rule that kept real estate investors from financing more than 4 properties at a time. The move increased the maximum properties financed limit to 10, giving investors a ticket to the nation’s REO and Foreclosure Party. In its widely-celebrated official announcement, Fannie Mae said upping the financed-property limit could stabilize housing nationwide. “Experienced investors play a key role in the housing recovery”, it noted. 3 months later, however, the 5-to-10 Properties Financed program is proving to be a bust. Despite Fannie Mae’s explicit endorsement of investor loans — mortgage lender… read more.