Thinking of buying a flip home, but have not look at HUD homes due to the 90 day regulation against flipping?  Well now might be your chance!  Below is a link to an article from Reuters.  Effective Feb 1, the Housing and Urban Development Department will waive for one year an FHA rule that prohibits insuring a mortgage on a home owned by the seller for less than 90 days.

See more by clicking on the link: 

http://news.yahoo.com/s/nm/20100115/us_nm/us_usa_economy_foreclosures

 

I have sold many HUD properties, If you need assistance please let me help!

Tony Brust

Realtor, GRI, ABR, e-PRO 

Jim Maloof / Realtor

309-208-7748

mailto:Tony@TonyBrust.com

www.TonyBrust.com

   

 

1 Comments on HUD acts to speed foreclosed properties resales

JAN
19
2010

Do you know the reasoning behind this rule in the first place?  It confused me when it cam out, in a slow market why restrict homes from being fixed up?

8:49am • #1


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Tony Brust Real Estate Agent, REALTOR, GRI, ABR, SFR, e-PRO, Peoria IL Area

Pekin, IL

More about me…

Jim Maloof / REALTOR

Address: 2990 Court st., Pekin, IL, 61553

Office Phone: (309) 353-3503 x 566

Cell Phone: (309) 208-7748

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