OfflineIf you haven’t heard, last Friday (01/15/10) FHA has agreed to purchase loans that are created within less than 90 days from the previous purchaser. This waiver is for one year, beginning two weeks from now - 02/01/2010. Now gives the private investor has the same opportunities that were afforded banks and mortgage companies in a similar waiver that was given to banks and mortgage companies in the summer of 2008.
In other words, it is no longer a criminal act for a private investor to flip a property!!! This is more than just a tacit admission by the government that the private investor in the real estate industry is a REQUIRED element for a vibrant and prosperous real estate industry to function properly.
Also, understand that this regulation refers to the LENDER who will be doing the new financing. It is not regulating the bank that is holding an REO or a mortgage company that is short selling.
Feb. 2nd Susan-Lassiter Lyons will interview Sean Carpenter expert on topic of Government Deal Funding for Real Estate Investors and Developers.
There will be info on Hud,Section 8,local,reional and
national funds and how these programs help us.
Get on www.getpublicfunding.com/assiter/ space is limited......Dean,everyone interested get on this.
Gayle M. DAddario
Rina filled me in on this. Its fabulous news for investors....opens the door for alot of good deals to happen between us and first time buyers. A good situation for sure!
Gayle -I tried the link above but it does not work...it says something is missing.
www.adeptpropertiesllc.com
my story:
http://www.deangraziosi.com/node/10404