hud: FHA Extends Waiver of Anti Flipping Rule - 01/04/12 12:57 AM
Good news for investors!
The FHA has announced that it is extending the waiver for it's property anti-flipping rule through December 31, 2012. This allows the use of FHA insured financing for HUD owned and bank owned proprties no matter how long title has been held. The same Arms Length rules apply and the profit margin (after associated costs) cannot be more than 20% above acquisition costs.
This is an attempt by the government to speed up the disposal of REOs and it appears to be working, at least in Maricopa Arizona. I "flipped" over 20 properties last year for investors and, … (0 comments)

hud: HUD Targeted for More Than $1 Billion in Cuts - 02/15/11 03:02 AM
This article outlines a few of the proposed budget cuts to HUD. In particular it mentions cuts to the Development Block Grant program and Neighbor Works.
The Development Block Grant program cuts are minor and I, for one, am glad to see that. In our small community of Maricopa n, these grants are vital to our local non profits and the money has been put to good use.
The Neighbor Works program, which provides housing counseling, is proposed to be cut by more then half. As far as I am concerned, this is a good move and it can be eliminated … (2 comments)

hud: HUD Extends FHA Anti Flip Rule - 01/27/11 12:45 AM
This article announced that HUD has extended the suspension of the FHA Anti Flip rule. This rule prohibited the FHA from insuring a mortgage on homes that were owned by the seller for less than 90 days. It was passed in efforts to speed to sale of foreclosed homes. The suspension has been extended until 2012.
This is good news for investors as it is estimated that 30% to 50% of home loans are FHA insured as buyers are drawn to these loans due to the lower down paymnets required. There are a number of restrictions, the most troubling being that homes … (3 comments)

hud: $1 Billion Dollars in Mortage Help on the Way?? - 01/25/11 08:27 AM
This article mentions a program that I was not aware of. I am all for assisting those in distress but is this the way to do it?
First of all, my best guess is that the many of the homeowners that are assisted will end up walking away from their home anyway. This will just be buying them some additional time at tax payer expense and prolonging decisions that need to be made regardless of their employment status. I could be very wrong on this and it might just apply to my area, but I see a lot of people that … (2 comments)

 
Bill "Waz" Wasowicz (Wizards of Waz Real Estate)

Bill "Waz" Wasowicz

Maricopa, AZ

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Wizards of Waz Real Estate

Address: 21621 N. Backus Drive, Maricopa, AZ, 85138

Office: (520) 840-0185

Mobile: (480) 390-5043

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We live, work, play and know the Maricopa area. We specialize in Short Sales and Foreclosures and love to help any buyer find the right investment or any seller conduct their sale properly and in the right time. Contact us anytime for updates in listings and the latest in short sales and foreclosures in Maricopa AZ homes.


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