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Good News, Investors

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The flipping rules have been relaxed until June 2009.  Until recently, an investor has to wait 90 days before the investor could resell a home to a FHA buyer.

The reason for this change was because investors are helping the economy by repairing the large number of foreclosed home thoughout the country.

According to the FHA, “under the revised policy the purchasers will have to be financed capable to handle the mortgage and underwriters will talke a hard look at the appraisal.”  As a result of the changes, the FHA will not be, or at least for the time being, turning down mortgages because the previous owner owned the property for less than three months.

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About admin

Serena Brown is broker and owner of Taylor-Brown Real Estate. She is the author of this blog. She has also co-authored a book entitled Should I Short Sale My Home. She has authored a e-book How to Sell My Home. She will be authoring a book on real estate investing by April of 2010 and several reports. She has dual degrees in Business Administration and Electronic Engineering Technology. She prides herself on being up to date on all trends, news, and education related to real estate to include short sale, loan modification, etc. She also makes sure her clients are abreast of how these changes will affect them financial. Therefore, stay tuned for great information in 2010.
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12 Responses to Good News, Investors

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