HUD Suspending 90 Day Rule
January 18, 2010 by Bob Schenkenberger · 2 Comments
HUD’s 90 day rule was a condition put upon home sales stating that if the property was owned for less than 90 days, the owner could not sell it and offer FHA financing. The reason for this was to keep unscrupulous investors from buying low, and re-selling immediately for substantial profit. Investors, rehabbers, and the like, needed to wait a full 90 days before the resale could go through with an FHA loan.
Stimulating Opportunities In The Government’s New Economic Plan
February 23, 2009 by Rebecca Hansen · Leave a Comment
The new economic stimulus package allocates $787 billion to boost our multi-trillion dollar economy. Here are some provisions individuals can take advantage of now.
1. Housing help. First time homebuyers can get up to an $8,000 tax credit if they close by November 30, 2009. This credit does NOT have to be paid back if [...]
Advantages of FHA Loans vs. Conventional Loans
February 6, 2009 by Bob Schenkenberger · 1 Comment
If you are considering a home mortgage loan it is best to gather your own facts rather than rely on a loan provider to inform you. Once you have gathered facts you can meet with a loan officer armed with knowledge and the proper questions to obtain the best loan product for your needs. Knowledge [...]
