HUGE announcement #1: HUD just announced that they are dropping the 90 day seasoning rule on HUD-owned properties, bank owned properties, and private sales.
HUGE Announcement #2: The government is giving away money to do short sales!
Hello!
Theres some HUGE news from Washington that is going to benefit you tremendously . . . if you know how to take advantage of it.
In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure.
The Federal Housing Administration will place a one-year moratorium on its anti-flipping rule, which will allow buyers with FHA-backed loans to purchase homes that have been held for less than 90 days, officials said Friday. The waiver took effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner.
Source: One Minute Millionaire e-zine
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