foreclosures investmentsk: SHORT TERM INVESTMENT OPPORTUNITY IN FORECLOSURES
- 01/21/10 02:41 PM
HUD 's new temporary policy will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties" The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities. Now … (0 comments)
HUD 's new temporary policy will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties"
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