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BREAKING NEWS FOR SHORT SALES - FHA WAIVES 90 DAY ANTI FLIP RULE!

This just in:  FHA announces they will waive the 90 day anti flip rule for short sale and reo back to back transactions!

 

Last week I wrote a blog about the legalities of these transactions, are back to backs legal, and informed you all of the legitimacy of them.  FOr all you flippers and rehabbers out there the news could not be any better!

 

Finally, the powers that be are actually doing something to help us churn through all this distressed inventory.  I predict many more lenders and organizations will fall in line like dominoes by the end of 2010.

Just make sure you follow the guidelines please as we don't need a few rotten apples to spoil the bunch.

 

BREAKING NEWS!! - FHA REMOVES 90 DAY ANTI FLIP RULE!! THIS IS VERY VERY GOOD NEWS -http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf

 

Happy Home Hunting!!

 

 

 

Disclaimer: While attempts have been made to verify information provided therein, the author does not assume any responsibility for errors, omissions, or contradictory information contained in this document. This document is not intended as legal, investment or accounting advice. The reader of this blog assumes all responsibility for the use of these materials and information. 

 

 

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Comment balloon 3 commentsKevin Kravcak • January 15 2010 11:19PM

Comments

Hi Kevin,

Thanks so much for the heads up and I check out your link.

Posted by Lynda Eisenmann, Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co (Preferred Home Brokers) over 10 years ago

Hi Lynda,

 

This was news I just had to share immediately.  So excited I can't sleep!   

This should brighten everyone's 2010 outlook.

Be well.

Kevin

Posted by Kevin Kravcak (Realty Mark Nexus) over 10 years ago

Thanks for the link so I could read the specifics!  I just posted this on my Facebook page.

Posted by Jim Paulson, Owner,Broker (Progressive Realty (Boise Idaho) www.Progressive-Realty.info) over 10 years ago

Participate