NEED YOUR KNOWLEDGE: QUESTION???
By Coldwell Banker Cutting Edge, "Your Proactive, Trusted Real Estate Advisor"
(Coldwell Banker Cutting Edge)
I have a great newly remodeled home in SW Medford it was an REO foreclosure, my clients purchased it and fixed it up. The property closed December 19th 2009, so I get a call yesterday and an agent asks me do we need to wait 90 days to write an offer since her buyer is from an FHA loan? I personally thought that went away as I read an article about that a couple weeks ago. I called my lender from Wells Fargo and he said the program stopped Feb 1, 2010 and the new rules have not come out yet. Another question can we write on the property and close after the 90 days if it is still in effect? Better yet who can explain the 90 flip FHA rule?
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