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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] read it...at least the last paragraph Posted by Kristine-Ca on January 15, 2010 at 5:36 PM In Reply to: Is this for real???? posted by FHA 90 day rule WAIVED! on January 15, 2010 at 3:03 PM Old news from 2008. What it basically says is that FHA is waiving thes requirements for lenders who get the properties back. So REOs are not subject to the 90 day issue. However, they are still subject to lots of other scrutiny. For you and me and buyers at trustee sale....same old same old 90 days. In my farm, brokers are getting plenty of deals done with lenders who don't have seasoning issues. And 90 days should never have been a deal breaker anyway. : I heard about this, then found this press release from HUD's website...has anybody else heard this? : http://portal.hud.gov/portal/page/portal/FHA_Home/press/property_flipping_waiver/property%20flipping%20waiver%20request.pdf Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Old news from 2008. What it basically says is that FHA is waiving thes requirements for lenders who get the properties back. So REOs are not subject to the 90 day issue. However, they are still subject to lots of other scrutiny. : For you and me and buyers at trustee sale....same old same old 90 days. In my farm, brokers are getting plenty of deals done with lenders who don't have seasoning issues. And 90 days should never have been a deal breaker anyway. : : : I heard about this, then found this press release from HUD's website...has anybody else heard this? : : http://portal.hud.gov/portal/page/portal/FHA_Home/press/property_flipping_waiver/property%20flipping%20waiver%20request.pdf [ 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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