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FHA Home Loans - Santa Rosa, CA - New Short Sale Rules 2010
FHA Home Loans - Santa Rosa, CA - New Short Sale Rules 2010
I don't know if this has been mentioned, but it's well worth noting. FHA has loosened up the guidelines for home owners who had to go through a short sale of their owner occupied home. This new change will allow home owners who went through a short sale to re-enter the real estate market as home buyers again. If you think about the number of previous home owners who were locked out of the real estate market, you'll understand the significance of this change in the FHA short sale rules for 2010. Millions of home owners will be able to buy a home again with a home loan! That means more transactions for the real estate industry! I can see the wave of buyers building in the horizon already. It's just a matter of time for this news to take hold of the consumer market.
Here's the gist of it new rule changes:
FHA will insure home loans for borrowers who sold their home through a short sale to pay off their current mortage in full and who kept all their debt obligations current, including their mortgage on ... more

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