Max conforming loan limit in CA is $625,500 for 2009, I believe.

I saw the stuff, but didn't buy b/c I was a bit nervous that it was so light.

My broker tells me cash out is limited to 70% LTV.

I have heard that, as of August 15, Fannie Mae and Freddy Mac have limited an individual to 5 mortgaged properties.

Keep your balance under 50% of the limit at all times, below 35% is even better.

(When I say Complete, I mean new Hot Water Heaters, New Furnaces, New Roof, New Windows, New Doors, New Carpet, New Paint, New Light Fixtures, New Electrical Outlets, New Bathrooms soup to nuts, New Kitchens, etc).

Unfortunately one month is our limit here in the Granite State.

Being in Alabama and smaller proeprty may be an issue --also many banks do not like smaller loans -- I am a Commercial Mortgage Broker and limit myself to $1.0 million up- same reason - I spend same amount of time and do not make enough on smaller loans - Please send me email -if it is still available --with info You just have to try to sell your self- through Real Estate Investors clubs and online Free ClassifiedsGood Luck

If the $329K value is accurate (only you can establish that, an apprasial, especially one you don't pay for, is of limited value), then you should apply the 70% guideline.

It appears to me that this will cause the banks to limit the losses they are taking on short sales, so that it will be much harder to get good deals on them.