fha: FHA 90 Day Seasoning Waiver Expanded - Flip Flip Hooray!?!
- 01/20/10 03:35 AM
90-Day Seasoning Waiver Expanded This update from FHA was released on Friday January 15th, 2010, as an excerpt from the CFR (Code of Federal Regulations) without a corresponding Mortgagee Letter and contains information about FHA's policies regarding the waiver of the 90-day seasoning required for sellers.Here are the 6 things you need to know about these changes: 1. Waiver takes effect February 1st, 2010 for a period of one year unless extended. 2. Investors are now exempt from the 90-day seasoning rule. 3. All transactions must me arms-length. 4. No identity of interest can exist between buyer and seller. 5. … (3 comments)
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