Freddie Mac Cuts Maximum Number of Financed Properties

[Tom C]

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.