Real estate blog entries tagged with morgage by Colleen Craig (Southern California Mortgage Professional)

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Home : Blogs : Colleen Craig : Colleencraig.com Blogs : Tag "morgage"

morgage: Property flipping guidelines extended by FHA until May 2010! What does this mean? - 10/08/09 10:13 PM

Property Flipping guidelines extended by FHA , until May 2010! What does this mean and who does this affect?
What is property flipping?
No .......it's not flipping your home with another couple as seen in trading spaces on TLC!

FHA GUIDELINES STATE THE FOLLOWING:
Property flipping is a practice whereby a recently acquired property is resold, often for a considerable profit.
Most property flipping occurs within days or a few weeks of acquisition and usually with only minor cosmetic improvements, if any.
While there is nothing illegal with selling properties within days of acquisition, some of these transactions are fraudulent because the … (65 comments)

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Colleen Craig

Santa Clarita, CA

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