fha loans on foreclosures: HUD Makes it easier to finance a foreclosure using FHA! - 01/19/10 02:21 AM
HUD TAKES ACTION TO SPEED RESALE OF FORECLOSURES
FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. However, HUD announced this week, a new temporary wavier of this rule to enable the financing of foreclosures and well as flips.  The waiver will take effect on February 1. 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner.
Limits to waiver:
All transactions must be arms length. In cases in which the sales price of the property is 20% or more above the seller's acquisition cost, the waiver … (2 comments)

 
Karen Pannell, Owensboro KY Real Estate -270-903-2167 Homes, Cond (Real Living / Home Realty) Rainmaker large

Karen Pannell

Owensboro KY Real Estate -270-903-2167 Homes, Cond

Owensboro, KY

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Real Living / Home Realty

Address: 3424 Frederica St, Owensboro, KY, 42301

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