Freddie Mac Cuts Maximum Number of Financed Properties
Freddie Mac recently announced guideline changes that will greatly affect residential real estate investors.
Beginning August 1st, 2008 the following changes will 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 must own the property for at least six months prior to refinancing.
http://www.freddiemac.com/sell/guide/bulletins/pdf/bll042208.pdf.
Rein USA..
Basically, if your lenders conforms or sells their loans to Freddie or Fannie you may need to find a new lender.