Crescent Hill--229 Ridgedale Rd.

This is a funky one bedroom one and a half bath house walking distance from Frankfort Ave.

More sub-prime mortgage fall out

Fannie Mae continues the shake down from the mortgage mess. Business First is reporting that Fannie Mae will is seriously tightening their guidelines.

The Washington, D.C.-based mortgage giant has told lenders it will no longer buy most loans made to borrowers who have credit scores below 580, nor will it buy loans that have been more than 60 days past due within the last year.

Without evidence that extenuating circumstances led to a foreclosure, it also will no longer buy mortgages made to borrowers who have lost a home to foreclosure within the last five years. Fannie Mae currently considers buying mortgages after four years have passed.

I'd say you're probably better off renting if your credit is 580 or below.