Great lending news!
It appears that Fannie Mae has decided that it is going to cut real estate investors a break. Word is hitting the street that the current cap on Fannie Mae backed loans will be removed for credit worthy real estate investors beginning March 1, 2009. The new cap will jump all the way up to 10 properties.
This is great news for you investors that have been waiting for something to break. The restrictions on this platform will probably be pretty strict, but when compared to the environment of the past year, this is a major step forward. This might bode well for the markets this summer. Might be time to get back in touch with your lenders and see what this means specifically for you. Hopefully you can reap the benefits.
More as it develops.