Friday, January 22, 2010

House Flipping

I just wanted to let you know that FHA has lifted the hard 90 day rule that would require a seller to be on title for 90 days before the property can re-purchased from a buyer that is getting an FHA loan. This will go into effect February 1, 2010 and last for 1 year. This is huge considering how many properties we have on the market that has been acquired from investors that are flipping their properties for really good deals. There are some important issue that you will want to know if you end up making an offer with a buyer that is going with an FHA loan. So PLEASE come to me for details and we can fill you in as we go. Thanks for all of your support.

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