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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] It Could Have Been Worse Posted by SeanW on June 05, 2003 at 7:39 AM In Reply to: new FHA anti flipping rules effective June 2 posted by Travis-CA on June 04, 2003 at 9:45 PM Their original proposal was 6 months! Since it can take a few months to get a house fixed anyway, the 3 month rule shouldn't be a big problem and won't deter legitimate rehabbers. And it *is* only FHA buyers. Now, if Fanny & Freddie start restricting what they'll purchase along these lines, that could be a real problem-- because it would have a cascading effect among all lenders. I've seen some posts from people claiming they don't care about the 3 month rule, b/c they have private lenders lined up, and do the "No credit check seller financing" deals. But I'd still rather have buyers able to shop around and get their financing where they want. Just smells more "retail and professional" this way... Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Their original proposal was 6 months! Since it can take a few months to get a house fixed anyway, the 3 month rule shouldn't be a big problem and won't deter legitimate rehabbers. : And it *is* only FHA buyers. : Now, if Fanny & Freddie start restricting what they'll purchase along these lines, that could be a real problem-- because it would have a cascading effect among all lenders. : I've seen some posts from people claiming they don't care about the 3 month rule, b/c they have private lenders lined up, and do the "No credit check seller financing" deals. But I'd still rather have buyers able to shop around and get their financing where they want. Just smells more "retail and professional" this way... Optional Link URL: Link Title: Optional Image URL: [ 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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