It was announced on January 18, 2010 that the Department of Housing and Urban Development has lifted the 90 day rule for FHA financing. This means an investor can purchase a home, renovate it, and sell it with FHA financing when they are finished, and put back on the market. The old rule stated they had to wait to offer FHA financing for 90 days after the purchase.
This is all an effort by HUD to promote first time homebuyers to get into the market and have their properites under contract by April 30th, 2010. This waiver will be in effect February 1 and will remain in effect for one year. This will add to the listings FHA buyers are able to purchase.
Joan Cox, GRI, ABR, CRS, e-Pro
Metro Brokers - House to Home, Inc.
Denver, CO 80237
www.JoanCox.com
Joan@JoanCox.com
About Me
- Joan Cox
- Denver, Colorado, United States
- With 13 years in real estate, I specialize in relocation, new construction, investor purchases, first time homebuyers and sellers. Ask me about my web site! Call today - 720-231-6373 In August 2009 I opened MY OWN Metro Brokers office in the Tech Center.
