Let’s face it: if you had to pick the most suffering, beat-up child in this real estate mess, it would be the second home market. This is probably the worst time ever for the second home market because most areas overbuilt during the boom, priced too high, and are now left with inventory. Getting a mortgage on a first home is hard enough, and investors are now limited to 7 mortgages including your homestead under Fannie Mae and Freddie Mac guidelines.
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