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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: 90 rule news? Posted by bukzin on January 20, 2010 at 7:29 PM In Reply to: Re: 90 rule news? posted by CCinOC on January 20, 2010 at 1:57 PM : As of today, I haven't identified a single lender that has adopted FHA's new 90-day rule. It may be some time before lenders have studied the implications of this rule to THEIR bottom line. Just because an investor (FHA, Fannie/Freddie) makes a rule doesn't mean all lenders must go along with it. None of the big banks (Bank of America, Chase, Citimortgage, Wells Fargo, Flagstar, etc.) have gotten onboard and there's no indication from any of them when they will get on board. : You, the real estate investor, must still be on title before you can enter into a new transaction with an end buyer, so an A-C transaction will still be impossible under the new rule. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Could you explain what a "A-C transaction" is? Thanks! Follow Ups: Re: 90 rule news? CCinOC 7:40 PM, 01/20/10 (1) Re: 90 rule news? JRollins 1:28 PM, 01/26/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : As of today, I haven't identified a single lender that has adopted FHA's new 90-day rule. It may be some time before lenders have studied the implications of this rule to THEIR bottom line. Just because an investor (FHA, Fannie/Freddie) makes a rule doesn't mean all lenders must go along with it. None of the big banks (Bank of America, Chase, Citimortgage, Wells Fargo, Flagstar, etc.) have gotten onboard and there's no indication from any of them when they will get on board. : : You, the real estate investor, must still be on title before you can enter into a new transaction with an end buyer, so an A-C transaction will still be impossible under the new rule. : : ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ : : Could you explain what a "A-C transaction" is? : Thanks! [ 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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