Finally, some good news from the FHA. Effective February 1st, the FHA is waiving their requirement of the “90 day holding period” before home sellers (predominantly real estate investors and speculators) can resell a piece of real estate to a buyer who uses FHA Insured financing. Given the recent increase of the UFMIP, coming reduction of seller’s concessions, and lower credit scores requiring larger down payments, it is refreshing to see the FHA enacting something that will actually help move inventory and improve neighborhoods.
There are multiple reasons why this is a good idea:
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Saturday, February 6, 2010
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