PROPERTY FLIPPING, THERE ARE MORTGAGE RULES TOO! - 09/14/09 11:59 AM
I recently read a post about property flipping.  The Realtor basically said it's not as easy is it seems to make money flipping homes.  So true.  But now, Banks and Mortgage Lenders have their own rules about it.  Some comments touched on the new 90 flipping rule/policy that many Lenders have.  I thought I should clarify, that there are some other parts to this new rule.  FHA started it and most Lenders now have the same requirement. 
There are two parts to this.  I hope this helps you in determining your carrying costs while waiting to sell.
Re-sales up to 90 days … (3 comments)

 
Ks_6

Kristeen Smith

Portland, ME

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First Portland Mortgage Corp

Address: 1321 Washington Ave, Portland, ME, 04103

Office Phone: (207) 878-7770 x 24

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First Portland Mortgage Corp. Portland, Mainefirstportland.com


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