Fannie Loosens Credit Restrictions on Investors
Source: http://feedproxy.google.com/~r/TheGoodNewsEconomist/~3/Yy2PizH2LTg/fannie-losens-credit-restrictions-to.htmlPosted on Friday, February 13th, 2009 | In Economics
pa href=”http://feedads.googleadservices.com/~a/5TJhhmNIdYgnD9dyEUWkJ9G_ZEc/a”img src=”http://feedads.googleadservices.com/~a/5TJhhmNIdYgnD9dyEUWkJ9G_ZEc/i” border=”0″ ismap=”true”/img/a/pYesterday you read about consumer spending rising in January and a style=”color: rgb(51, 51, 255);” href=”http://mast-economy.blogspot.com/2009/02/friday-sunshine-foreclosures-plummet.html”foreclosures plummeting./a That’s good news for home owners looking to stay in their houses or needing to sell in this housing market.br /br /But there is more warmth for seasoned investors looking to span style=”font-weight: bold; font-style: italic;”buy/span real estate in this market.br /br /Last week Fannie Mae announced that it would loosen several of its loan restrictions for real estate investors and second homebuyers. It enumerated a set of new guidelines designed to attract landlords and other low-risk speculators into the current market.br /br /“Fannie Mae is committed to providing financing opportunities for high-credit quality, bona fide investors,” said Fannie in a press release. “Experienced investors play a key role in the housing recovery and Fannie Mae’s continued support for investor borrowers is consistent with its mission to provide stability, liquidity and affordability to the nation’s housing system.”br /br /The new Fannie Mae guidelines allow investor and second home borrowers to qualify for Fannie-backed financing on up to 10 properties by following strict underwriting requirements. Prior to the new rule, Fannie had a “four property limitation” for those investors.br /br /The change will go in effect on March 1, 2009.br /br /For those of you following the Buffett model, “a style=”color: rgb(51, 51, 255);” href=”http://mast-economy.blogspot.com/2009/01/what-was-warren-doing-in-1974-how-about.html”now is the time to invest and get rich/a.”div class=”blogger-post-footer”div/div
No Gloom here. Only Good News.
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Last 5 posts by Eldon Mast
- Good News Wrap - First Week of Sept - September 8th, 2009
- Mr. Roubini, Please Have a Seat Already - April 26th, 2009
- Not All Banks Increased Loan Write-Offs in Q1 - April 24th, 2009
- Seven Banks Have Now Paid Back TARP - April 21st, 2009
- Four More Analysts Call Market Bottom - April 17th, 2009
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 About Eldon Mast (http://mast-economy.blogspot.com/)
Eldon Mast has been investing since the time he earned his first dollar back in the 1970s. He is particularly interested in how moods effect the market. In good times and bad, he has observed a peculiar fascination by the mainstream media on "bad news." He has also observed in business and investing that there is always a silver lining somewhere. You just have to find it. And when he finds it Mr. Mast enjoys talking about it and writing about it. It is out of that interest that the Good News Economist Blog was born. As a valedictorian of his class, Mr. Mast holds a B.S. in Computer Science from Millersville University of PA, and enjoys writing about and marketing anything, technical, computer, internet, or finance related. |
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