Some banks are now creating their own guideline to the 90 Day Flipping Wavier. Beware if you have one. - 03/19/10 01:55 PM
We have just seen a change that some of the banks are enforcing.
The FHA flipping rule that went into affect on 2/1/2010 states that if a seller lists and sells a house before 90 days of him purchasing the property and he sells it for over 20% of the seller's acquisition cost. The bank will require 2 appraisals as well as an inspection of the property. We just complete one and it did go well.
However, be aware that some banks starting Monday 3/22/2010 will not accept a purchase agreement with a sales price of more than 20% of … (1 comments)

Answer these questions for yourself. I have been requested to share them. Great for anyone looking for a focus on how they look at their business. Let me know your favorite one. - 03/15/10 05:01 PM
How did you answer these questions for your own business? 
Being confident in my business is__________________________________________. 
I know one of the greatest traits in a business partner is______________________. 
Within each of us is a hidden store of________________________________________. 
In business you must attempt to_____________________________________________.
 Learning to smile in my business is an opportunity to__________________________.
 We would accomplish many more things if we _________________________________.
 The reward of a thing well done is to_________________________________________.
 In the middle of all challenges lies___________________________________________.
 Opportunity is missed by most people because________________________________.
 Do a little more each day of_________________________________________________ 
Happiness is the key to_____________________________________________________.
 If I knew I could not … (0 comments)

Your purchaser wants to buying a flip home? Agent & Buyer beware with the new changes. Here's the scoop..... - 03/05/10 11:44 AM
Everyone thinks that the 90 day wavier to the flip rule opens the door  to alot more purchases. Well Agents and Client's beware of the rules!
I had a transaction that was signed on 2/1/10. Home is cuter then can be. The buyer was willing to pay what ever it took to get the home. The were multiple offers. They got it. With the rule we had the first apprasial it came $3,000 under the agreed price. The seller said o.k will drop it.
Now it is time to pray!
Now we get the second apprasial per requested new wavier rules … (2 comments)

 
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Natalie M De Leo

Birmingham, MI

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Mortgage Resource Plus

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