fha guidelines: Property Flipping
- 05/19/09 12:00 AM
Big News HUD has just extended the waiver of the 90 day seasoning for REOs being sold to FHA customers. They have extened it to May 10th 2010. That means you can sell an REO to an FHA borrower immediately. No waiting the 90 days.. sounds like a challenge. This includes the 203b and 203k. Property Flipping has been frowned on and considered illegal by HUD for quite a while. I remember having them in my office once years ago telling me just that. I had purchased a property at a wholesale price, and sold it a few days later for a nice … (5 comments)
fha guidelines: New FHA Handbooks
- 05/11/09 07:24 AM
Sat in on the FHA update telephone conference today. Very good presentation by the way. Anyone who missed it should go to http://www.fhaoutreach.gov/FHAHandbook/prod/index.asp and check out the new handbooks 4155.1 and 4155.2. they are searchable in their format and have hyperlinks throughout. If you have any problems or issues please contact me and I'll walk you through it. I have the power point presentation and know where you can get it on line.
Sorry no appraiser revelations to report they are working on this one. No 203k revelations either... possibly in about two months. FHA appraisals DO NOT have to … (0 comments)
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