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Lenders for "flip" homes?

By
Real Estate Agent with West USA Realty

Lenders in Arizona:

Is there a loan that you can do for a home that's been owned by the current owner for less than 90 days? Yes, it was a repo. Yes, the current owner/seller fixed, painted, etc. Yes, my buyer knows all of the above and wants to buy the home. Buyers lender states such a loan can't be done.

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Rodney Mason, VP of Mtg Lending
Rate, Inc NMLS# 2611 - Atlanta, GA
AL,AR,AZ,CA,CO,FL,GA,IN,MI,MS,NC,NV,SC,TN,TX,VA,WA

On February 1st, HUD announced temporary changes to its 90 Day Flipping Rule. Just because HUD has changed the rule doesn't mean that every lender will participate.  Their are specific conditions under which this is now acceptable.

May 25, 2010 02:31 PM