ALERT for Investors Who Use Financing!
One of my lender friends sent me an article today discussing Fannie Mae's and Freddie Mac's conservator, FHFA, is going to be cutting back drastically on loans that are secured by second homes and investment properties. They plan to reduce the amount of these loans on their books to only 7% of their overall holdings. This is a major decrease and you should talk with your lender to see how it will impact your overall strategy.
Checkout the article in detail here: