FHA had waived this rule during the housing crisis in an attempt to boost home sales. For a while now there has been no minimum waiting period for an investor to purchase a home, fix it up, and then sell it to a home buyer at a higher price (on an FHA loan).
This 90 day waiting period will be re-instituted starting December 31, 2014.
Just wanted you to know!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
I’ve written about this before, but we have more and more people passing the age…
I had this situation come up again last week, and I wanted to address it…
One of the most important things you will have to do when you apply for…
I wanted to remind you that we have a 2% to 5% downpayment and closing…
If you receive money from the State or a County sponsored organization for providing foster…
Do you have investment property, and would like to pull cash out of your property?…