Sunday, January 17, 2010

INVESTORS GET THE GREEN LIGHT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Dropping in to give you the case you missed it

Effective February 1 ,2010 FHA will be waiving there 90 day seasoning requirement for financing for one year. So, what's that have to do with you the investor? If you don't know, you haven't been investing in REO's or short sales. And that's ok, you were waiting on the right time. Well, NOW is the time!

Most rehabs are complete within just 2-3 weeks. The investor would have to sit on his/or her hands for 90 days and let the property go through "seasoning". If you already have a end buyer lined up, this meant unnecessary holding cost for monthly payments, maintenance, utilities..etc

Before February 1, 2010, the FHA would not allow your end buyer with an FHA loan to purchase a property that had not been owned by the person on title for less than 90 days. With FHA providing most of the funding for first time home buyers, this gave FHA buyers a disadvantage, and kept the housing market from recovering as fast as it could.

Now that you have the green light...get out there and "FLIP THAT HOUSE"

Of course their are some restrictions. See full details at

Stay Tuned for more great wholesale deals!!

~Michelle Murray~

Happy Investing!!