policy: Two Buyers, One House... One Agent?
- 10/09/12 10:15 AM
Let's talk about agency, representation, and conflicts of interest. We received a call today from a gentleman who had just fired an agent he had been working with for a few months. We'll call him Bob. Bob and his agent were out together looking at a HUD home when a man "off the street" came to the door and asked to see the home. Bob's agent let the prospect in to tour the home and spent time with the man, giving him her card as he left. Later, when Bob expressed a desire to write an offer on the home, his agent informed him (5 comments)
policy: FHA 90 Day Seasoning Rule Waiver
- 06/09/10 09:36 AM
Effective February 1, 2010, HUD waived the requirement that an FHA Loan could not be issued on a home where the current owner was on title for less than 90 days before a contract to purchase was entered into. Well, the fact that it was not included in a Mortgagee Letter is causing some problems. I called HUD today to make them aware of the absence. I have no idea if or when they will actually put it into a Mortgagee Letter or not, but I thought it wouldn't hurt to ask them to. HUD and FHA were both on board (3 comments)