2nd mortgage question for Dave
I am a realtor and I received the following in an email from a mortgage broker:
"... Rules and regulations are changing on a
daily basis in the Mortgage industry...
Definite Changes- As of March 9th 2009, 20% down is required for all second home
Anticipated Changes- Fannie Mae may be raising the number of loans an investor
will be allowed to hold to 9."
I have a client who is looking for a second home in my town and I would like to share this information with him, but not as it is. I called her to ask for an article to cite, and she failed to call me back.
I live in NY.
Any legs to this "definite"?