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Fannie Mae 10 mortgage limit- did you hear lenders are not observing this rule?

Real Estate Agent with Re/Max Communities

Recently Fannie Mae revised their guidelines from a 4 mortgage limit to 10 mortgage limit for all qualified buyers.

Real experience suggests that lenders in the Atlanta area at least are not observing the new limits.

Although Fannie says "go" if you have fewer than 10 mortgaged properties, individual lenders are saying "whoah!"

This is a huge problem. We need our investors with cash and the ability to finance to get out and soak up

this over supply! Until this happens, real estate markets will continue to limp along.