What's Up?
1/15/2010
As we have been saying all along ... short sale and REO flipping
are becoming more and more accepted by the government and major
lending institutions. This is evidenced, among other things,
by Freddie Mac's recent bulletins, updated credit policies by
Wells Fargo to allow for C buyer financing, and revised title bulletins
stating that the C purchase price does not need to be revealed
to the A lender as long as certain disclosures are made.
Today, the FHA rescinded its 90 anti-flipping rule and will,
for a period of 1 year, allow FHA buyers to obtain loans
on properties that have recently been purchased by investors.