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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: HR1727 House Bill Headed For The US Senate? Posted by CC in OC on May 30, 2009 at 3:15 PM In Reply to: Re: HR1727 House Bill Headed For The US Senate? posted by jpeter on May 30, 2009 at 2:12 PM As Bruce pointed out in his before-and-after slides, sometimes ONLY a professional real estate investor has the skill and financial strength to take a completely trashed house and turn it into something that can be lived in. In that case, how does holding the property for an additional 30-60 days, thereby exposing the property to vandalism, help anyone? Unfortunately, there's no way to distinguish the investors from the speculators; hence, the seasoning period required by FHA and most conventional lenders. As far as FHA being an "abomination," prior to this latest rout, FHA was only one of two agencies of the U.S. Government--the post office being the other--that was completely self-supporting, having never been in the red due to the efficiency of FHA insurance against defaults. http://tinyurl.com/lzkqp6 Follow Ups: Re: HR1727 House Bill Headed For The US Senate? jpeter 7:09 PM, 05/30/09 (1) Re: HR1727 House Bill Headed For The US Senate? CC in OC 0:47 AM, 05/31/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : As Bruce pointed out in his before-and-after slides, sometimes ONLY a professional real estate investor has the skill and financial strength to take a completely trashed house and turn it into something that can be lived in. In that case, how does holding the property for an additional 30-60 days, thereby exposing the property to vandalism, help anyone? Unfortunately, there's no way to distinguish the investors from the speculators; hence, the seasoning period required by FHA and most conventional lenders. : As far as FHA being an "abomination," prior to this latest rout, FHA was only one of two agencies of the U.S. Government--the post office being the other--that was completely self-supporting, having never been in the red due to the efficiency of FHA insurance against defaults. : http://tinyurl.com/lzkqp6 [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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