Thursday, May 22, 2008

Declining market Requirements have Changed

There have been some recent postings that 'DECLINING MARKET' requirements by Fannie Mae would require borrowers to put down an additional 5% in certain areas based on 'declining market' figures. It was annouced a short time ago that this requirement will no longer be necessary. It was discussed in the industry that decided that this would bring more problems to an already challenged industry and stigmatize available properties. The new policy will allow for borrowers to take out 95% loan to value loans on properties that have been earlier declared "declining markets" such as some areas of Albuquerque as well as Rio Rancho, New Mexico. This will obviously help those who need to buy with minimum down payments in areas that are still affordable. The new policy will take effect June 1st. For the latest information on the Albuquerque real estate market and statistics, and a new market tool called Market Snapshot visit my site at
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