Any rules on the properties above 10? I heard from Countrywide that the 4-rule limit was being lifted to 10 but they had no information on anything above 10.
I wish I had this problem... Still trying to get past 4 now...
Quote:
On 2009-02-17 19:55, smithj2 wrote:
Any rules on the properties above 10? I heard from Countrywide that the 4-rule limit was being lifted to 10 but they had no information on anything above 10.
If your sister helped your mom with the reverse mortgage, I am sure they explained to both of them how it worked. More than likely she received a lump sum payment. I believe that the reverse mortgage is a good opportunity for our seniors to enjoy what is left of the rest of their lives. I had an aunt that passed away and the family cant sell the home in the current market, they wished they had done a reverse.
You heard correctly. Fannie Mae has established new qualifying criteria for investor financing for the fifth through tenth property.
Any rules on the properties above 10? I heard from Countrywide that the 4-rule limit was being lifted to 10 but they had no information on anything above 10.
Thanks.
JS.
I wish I had this problem... Still trying to get past 4 now...
Quote:
On 2009-02-17 19:55, smithj2 wrote:
Any rules on the properties above 10? I heard from Countrywide that the 4-rule limit was being lifted to 10 but they had no information on anything above 10.
Thanks.
JS.
If your sister helped your mom with the reverse mortgage, I am sure they explained to both of them how it worked. More than likely she received a lump sum payment. I believe that the reverse mortgage is a good opportunity for our seniors to enjoy what is left of the rest of their lives. I had an aunt that passed away and the family cant sell the home in the current market, they wished they had done a reverse.