FHA Changes Anti-Flipping Rule

Effective February 1, the Federal Housing Administration will offer mortgage insurance for certain purchases in the case of where the seller bought the property and held it for less than 90 days.

This is known as the “anti-flipping rule” that could speed up sales of renovated homes in communities with an excessive amount of bank-owned and foreclosed homes.

By waiving the 90-day rule may encourage private investors to purchase vacant properties, repair them, and sell them to buyers who will be eligible to buy them with FHA financing.

For more great reasons to by a home in 2010, please click on The Best Time to Buy a Home is Now!

Currently, there are many great opportunities to purchase a home in Hoboken for investors or for those in search of a place to raise your family who can apply the home buyer’s tax credit to their purchase. Please click on tax credit information for more details. Perhaps you are considering buying your very first home, or you may be at the point in your life that you are searching for your ultimate dream home. If either may be the case or if it is something in between, contact Eddie Perez at (201) 344-2886 or go to Hoboken Condo Expert.

Advertisements
Explore posts in the same categories: Uncategorized

Tags: , ,

You can comment below, or link to this permanent URL from your own site.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: