fha: What A Flipping Mistake!
- 02/09/11 05:09 AM
WHAT A FLIPPING MISTAKE! I suffered an embarrassing mistake in 2010.While chatting with an investor/client, I was show-boating my knowledge of the anti-flipping rules. This fellow will surely give me oodles of business, I thought, when he cleared his throat, signaling an interruption. I was in the zone and my words were flowing like freshly melted snow down river. "Excuse me Brian...""Yes?" "It's just....I think the FHA is suspending the anti-flipping rule."Gulp. The long-standing anti-flipping rule was no longer long-standing. This is an important item for any investor to know. It's a rule that prohibits the FHA from insuring mortgage on property bought and sold in the space of 90 days. For buyers hoping to flip a property, the rule is designed to prevent foreclosures from … (4 comments)
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