Heading into the weekend I just want to pass along an article I read today that, frankly, really challenged me.
It’s from short sale guy Josh Cantwell sharing his thoughts on the Fannie/Freddie Mac seizure doubtless everyone in the free world should be keenly aware of by now.
Now I should clarify, he didn’t ask me to [...]

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So Uncle Sam just ate cousins Fannie and Freddie.
With that, the we enter a new and uncharted phase of the mortgage crisis, potentially saddling American taxpayers with billions of dollars in losses from home loans made by the private sector.

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Here’s a spattering of articles I’ve stumbled upon this week, and found interesting, relevant and shareworthy…
“Bulk REO Properties - Is the ‘bulk’ REO deal a myth?” (The REI Brain, 7/16/08)
“I have been seeing all kinds of people saying lately that they are “bulk reo property” buyers. Then they go on to say that they have [...]

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I first heard about all the fuss with Fannie Mae and Freddie Mac on Sunday while at Shaun McCloskey’s short sale bootcamp.
Someone had mentioned it, after catching a glimpes of the news on a break.
Now that I’m back in town I’ve done a little reading up on what’s going on.
Veeeeery interesting.  It’s gonna be pretty [...]

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In case you missed it, a couple weeks back Freddie Mac announced guideline changes that will dramatically affect many residential real estate investors.
As of August 1st, 2008 the following changes will officially go into effect:

A borrower may not have more than four financed 1-4 unit properties (including the subject property);
For cash out refinances the borrower [...]

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