The Real Estate Investor gets some RELIEF

February 11, 2009
Matt Isleib

 

UPDATE:

 

            I recently wrote that the Real Estate investor in this market, you know the one who has a long history of owning and managing properties had been squeezed out. Freddie Mac and Fannie Mae both adopted guidelines stating that if you have more than four mortgaged properties they will not finance the fifth property. That left investors virtually UN mortgage able.

 

 

            This guideline was extremely hard to wrap my hands around. Why shun the one borrower that has the ability to become a buyer in this market? Aside from being sarcastic who limits the type of borrower who has a proven track record of owning multiple properties, paying their bills on time and quite simply is an investor? In a beaten down real estate market the first two types of borrowers that are going to start the buying recovery are first time home buyers and investors. The first time home buyers are going to see value in buying cheap property and the investor obviously said is looking for that great investment.

 

            Thank God somebody at the top of the GSE’s decided to use some common sense and revise their previous stance. In a memo from Fannie Mae, announcement 09-02 they have since revised their policy. They have issued guidelines for borrowers to finance up to 10 properties.  

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