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Forums » For Mortgage Professionals » Loan Scenarios » rules for selling to FHA buyers
 

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Latest post Wed, Feb 25 2009 9:04 AM by Gary Paetzold. 2 replies. Viewed 593 times.
Page 1 of 1 (3 items)

  • Wed, Feb 25 2009 12:32 AM                

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    So this is one that has stumped me; I cnat find an answer anywhere.  If a seller owns a property for less than 3 months, can he sell to a buyer who is using an FHA loan, or does it have to be owned for 90 days?  Hep me, Wanda, hep me! =)

    PREMIUM MEMBER
     "It's a Good Life!!"
    Ethan Brizzi~ President of Brizzi Financial ~ Branch Manager Golden Horizon Mortgage~ 2612 J Street #7, Sacramento, CA. 95816~ 916-441-4927 office
    www.ethanbrizzi.com ~ ethan@ethanbrizzi.com

  • Wed, Feb 25 2009 3:30 AM                 In reply to

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    FHA's anti flipping rule says 90 days. Only exception to date that I know is bank owned properties where title changed with-in the bank (different divisions, etc).

    Wink

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     Clem Borkowski SkiHawk Mortgage Powered by Universal Lending Corp.
    Residential,Commercial & Construction, 13 states. VA Experts proudly serving our Veteran community. www.SkiHawkMortgage.com , 719.266.4744, Clem@SkiHawk.net

  • Wed, Feb 25 2009 9:04 AM                 In reply to

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    Your local field office can make an exception however they rarely do...

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     Gary Paetzold - Smart Mortgage Group
    Regional Mortgage Banker
    Direct - 609-929-7100
    gp@smartmort.com
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