The Investor Insights » FHA

FHA 90 Day Flip Exemption for Investors

lassiter — Sat, 16 Jan 2010 15:48:37 +0000

Calling all flippers! Get the party started because the FHA has finally come to their senses. Yesterday, investors were granted an exemption to the 90 day seller seasoning rule. Otherwise known as the anti-flip rule. They determined that properties take less than 90 days to rehab and making buyers wait increases holding costs thus making the properties less affordable and increasing the chance of vandalism due to vacancy. The waiver goes into effect February 1, 2010 and will last for one year through February 1, 2011. There are a couple of caveats: 1. All transactions must be arms length so no selling properties to your Mom. 2. If you’re selling for more than 20% of your acquisition cost, you must justify the value by providing documentation of your repairs and/or a second appraisal. Click Here to read the press release Click Here to read the full waiver I think this is fantastic news! Tell me what you think – leave a comment

Why No FHA Loans For Foreclosure Investors?

lassiter — Fri, 04 Sep 2009 16:21:58 +0000

Hidden away in the deep recesses of the federal government is a one-shot financing plan which will allow you to not only buy foreclosures but it will also to pay for repairs and upgrades. The FHA’s 203(k) program has been on the books for decades but over

You Can Do FHA Flips In These Five States

lassiter — Thu, 11 Dec 2008 03:38:07 +0000

Rehabbers take note. The FHA anti-flipping rule is suspended in five states in the Midwest. (This means you don’t have to wait 90 days to sell to a new buyer who is using FHA financing). Here’s the list of states and counties: Nebraska: Eligible counties are – Buffalo, Butler,

FHA: The New Subprime

lassiter — Thu, 28 Aug 2008 21:28:05 +0000

Calling all flippers! I just read the latest stats on FHA loans and they are staggering. 23% of all first mortgage loans last month nationwide were FHA loans. That’s up from 1.8% two years ago and is