Comments on: FHA 90-Day Rule Update http://www.123flip.com/fha-flipping-update Education for the Serious House Flipper Fri, 10 Feb 2012 04:32:24 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Fred Roven http://www.123flip.com/fha-flipping-update/comment-page-1#comment-4834 Fred Roven Fri, 14 Jan 2011 23:14:04 +0000 http://www.123flip.com/?p=1733#comment-4834 I wondered if anyone knws what HUD is planning after waiver expires Feb 1? I wondered if anyone knws what HUD is planning after waiver expires Feb 1?

]]> By: J Scott http://www.123flip.com/fha-flipping-update/comment-page-1#comment-4591 J Scott Sat, 25 Dec 2010 19:21:24 +0000 http://www.123flip.com/?p=1733#comment-4591 Steven - The waiver is still in effect, but what many investors have seen over the past year is that many of the lenders out there still require 90 days before they make the loan -- this isn't required by FHA, but the lenders are doing it themselves. That said, there are lenders out there who will do this type of loan, you just need to find them. Talk to a couple local brokers who can shop the loan to multiple underwriters/lenders and who can hopefully find a local or regional bank who can get this done. In fact, we just found out that Wells Fargo is able to do a sub-90 day FHA loan for our most recent buyer, so even some of the big banks are doing it now as well. Steven -

The waiver is still in effect, but what many investors have seen over the past year is that many of the lenders out there still require 90 days before they make the loan — this isn’t required by FHA, but the lenders are doing it themselves.

That said, there are lenders out there who will do this type of loan, you just need to find them. Talk to a couple local brokers who can shop the loan to multiple underwriters/lenders and who can hopefully find a local or regional bank who can get this done. In fact, we just found out that Wells Fargo is able to do a sub-90 day FHA loan for our most recent buyer, so even some of the big banks are doing it now as well.

]]> By: Steven Ciambelli http://www.123flip.com/fha-flipping-update/comment-page-1#comment-4590 Steven Ciambelli Sat, 25 Dec 2010 19:12:51 +0000 http://www.123flip.com/?p=1733#comment-4590 Is the waiver still in play or not? I put one under late sept.010 60 days after i bought it ..after almost 2 1/2 months of waiting for closing..loan was declined according to mort. broker due to 90 day rule..This doen't sound right to me.. Is the waiver still in play or not? I put one under late sept.010 60 days after i bought it ..after almost 2 1/2 months of waiting for closing..loan was declined according to mort. broker due to 90 day rule..This doen’t sound right to me..

]]> By: Karen Meyer http://www.123flip.com/fha-flipping-update/comment-page-1#comment-3172 Karen Meyer Mon, 15 Feb 2010 20:50:49 +0000 http://www.123flip.com/?p=1733#comment-3172 Does anyone have an update on whether or not lenders are changing their rules to make these loans? I have a property that is ready to go and I have buyers wanting to get in on the $8000 credit. I bought the house on February 1 and recorded the deed a week later. If we have to abide by the 90-day rule we will have to write the contract in May missing the $8000 credit. Does anyone have an update on whether or not lenders are changing their rules to make these loans? I have a property that is ready to go and I have buyers wanting to get in on the $8000 credit. I bought the house on February 1 and recorded the deed a week later. If we have to abide by the 90-day rule we will have to write the contract in May missing the $8000 credit.

]]> By: FHA 90-Day Flip Rule Suspended: Lenders Hesitant To Change | Finance Blog http://www.123flip.com/fha-flipping-update/comment-page-1#comment-3110 FHA 90-Day Flip Rule Suspended: Lenders Hesitant To Change | Finance Blog Fri, 29 Jan 2010 15:38:50 +0000 http://www.123flip.com/?p=1733#comment-3110 [...] reports that there are certain guidelines which lenders are directed to follow: 1. All transactions must be arms-length, meaning that there must not appear to be any impropriety [...] [...] reports that there are certain guidelines which lenders are directed to follow: 1. All transactions must be arms-length, meaning that there must not appear to be any impropriety [...]

]]> By: FHA 90-Day Flip Rule Suspended: Lenders Hesitant To Change http://www.123flip.com/fha-flipping-update/comment-page-1#comment-3106 FHA 90-Day Flip Rule Suspended: Lenders Hesitant To Change Fri, 29 Jan 2010 13:27:21 +0000 http://www.123flip.com/?p=1733#comment-3106 [...] reports that there are certain guidelines which lenders are directed to follow: 1. All transactions must be arms-length, meaning that there must not appear to be any impropriety [...] [...] reports that there are certain guidelines which lenders are directed to follow: 1. All transactions must be arms-length, meaning that there must not appear to be any impropriety [...]

]]> By: Bilgefisher http://www.123flip.com/fha-flipping-update/comment-page-1#comment-3050 Bilgefisher Mon, 18 Jan 2010 14:28:40 +0000 http://www.123flip.com/?p=1733#comment-3050 I say your blog post on this, and then saw 4 other spots with the information. Thanks for the heads up, I musta been hding in a hole these last few days. I say your blog post on this, and then saw 4 other spots with the information. Thanks for the heads up, I musta been hding in a hole these last few days.

]]> By: Nick@Subject2.com http://www.123flip.com/fha-flipping-update/comment-page-1#comment-3047 Nick@Subject2.com Sun, 17 Jan 2010 16:41:13 +0000 http://www.123flip.com/?p=1733#comment-3047 Like most investors, I'm certainly happy with the waiver. I must say it's a long time coming. Like most investors, I’m certainly happy with the waiver. I must say it’s a long time coming.

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