Why all the HUD changes? - 01/22/10 01:18 PM
Hi, Recent HUD news, they are removing the 90 day seasoning for FHA purchase of flipped properties for one year. Yesterday's news was that they are increasing the UFMIP (up front funding fee) on FHA loans from 1.750% to 2.250% and decreasing seller's paid concessions from 6% to 3% on April 5th of this year. Rumor has it that HUD is running out of money. What have you heard?
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Do you see an urgency in the market? - 01/20/10 10:09 AM
Hi,
I'm wondering what you are seeing in your local markets, is there urgency to purchase before the tax credits expire? Do you see buyers scrambling to close quickly?
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