HOUSING: Feds suspend anti-flipping rule

[SD Realtor]

This will not only help me out but it will help out many frustrated buyers out there. The current seasoning requirement is a joke and easing that restriction is fair.

Let me ask you something, why is it that a bank can foreclose on a home and that home can be sold immediately and anyone can buy it and get financing be it fha or conventional with no seasoning but if I buy it at trustee sale then resell it then a buyer cannot finance it unless I hold it 90 days.

What sense does that make?

It makes me a seller have to turn away fha buyers and even tell conventional buyers that their financing choices are very limited.

So yes this will help me and all the other evil flippers but it will effectively help buyers as well.

And yes uco this is consistent with govt policy and reinflating the bubble.

[patientrenter]

[quote=SD Realtor]…..So yes this will help me and all the other evil flippers but it will effectively help buyers as well.

And yes uco this is consistent with govt policy and reinflating the bubble.[/quote]

SDR, your last paragraph is correct, but the one prior is not. I’ve never thought that flippers were evil, and in particular I think people like you are doing the best they can given the cards that our govt has dealt us all.

[patientrenter]

[quote=SD Realtor]…..So yes this will help me and all the other evil flippers but it will effectively help buyers as well.

And yes uco this is consistent with govt policy and reinflating the bubble.[/quote]

SDR, your last paragraph is correct, but the one prior is not. I’ve never thought that flippers were evil, and in particular I think people like you are doing the best they can given the cards that our govt has dealt us all.

[patientrenter]

[quote=SD Realtor]…..So yes this will help me and all the other evil flippers but it will effectively help buyers as well.

And yes uco this is consistent with govt policy and reinflating the bubble.[/quote]

SDR, your last paragraph is correct, but the one prior is not. I’ve never thought that flippers were evil, and in particular I think people like you are doing the best they can given the cards that our govt has dealt us all.

[patientrenter]

[quote=SD Realtor]…..So yes this will help me and all the other evil flippers but it will effectively help buyers as well.

And yes uco this is consistent with govt policy and reinflating the bubble.[/quote]

SDR, your last paragraph is correct, but the one prior is not. I’ve never thought that flippers were evil, and in particular I think people like you are doing the best they can given the cards that our govt has dealt us all.

[patientrenter]

[quote=SD Realtor]…..So yes this will help me and all the other evil flippers but it will effectively help buyers as well.

And yes uco this is consistent with govt policy and reinflating the bubble.[/quote]

SDR, your last paragraph is correct, but the one prior is not. I’ve never thought that flippers were evil, and in particular I think people like you are doing the best they can given the cards that our govt has dealt us all.

[4sranch_buyer]

This is great. I am currently looking for loan options for a home that falls in this category (hasnt passed the 90 day seasoning period). When does this suspension rule come in to play? Though I am going for a conventional loan with 20+% down, I am quite limited to lenders as many are shying away from financing our purchase. Some of these limited lenders are also charging higher rates and fee compared to others.

[4sranch_buyer]

This is great. I am currently looking for loan options for a home that falls in this category (hasnt passed the 90 day seasoning period). When does this suspension rule come in to play? Though I am going for a conventional loan with 20+% down, I am quite limited to lenders as many are shying away from financing our purchase. Some of these limited lenders are also charging higher rates and fee compared to others.

[4sranch_buyer]

This is great. I am currently looking for loan options for a home that falls in this category (hasnt passed the 90 day seasoning period). When does this suspension rule come in to play? Though I am going for a conventional loan with 20+% down, I am quite limited to lenders as many are shying away from financing our purchase. Some of these limited lenders are also charging higher rates and fee compared to others.

[4sranch_buyer]

This is great. I am currently looking for loan options for a home that falls in this category (hasnt passed the 90 day seasoning period). When does this suspension rule come in to play? Though I am going for a conventional loan with 20+% down, I am quite limited to lenders as many are shying away from financing our purchase. Some of these limited lenders are also charging higher rates and fee compared to others.

[4sranch_buyer]

This is great. I am currently looking for loan options for a home that falls in this category (hasnt passed the 90 day seasoning period). When does this suspension rule come in to play? Though I am going for a conventional loan with 20+% down, I am quite limited to lenders as many are shying away from financing our purchase. Some of these limited lenders are also charging higher rates and fee compared to others.

[34f3f3f]

I’m not so sure than anything the government does to prevent prices from falling, or assist banks’ balance sheets is all a good thing. It wasn’t that long ago that FHA loans were being hailed as the new subprime. Shouldn’t the FHA rules be tightened, ensuring at the very least borrowers have more ‘skin in the game before unleashing this 90 day rule? Low down payment is a leading cause of foreclosures.

[34f3f3f]

I’m not so sure than anything the government does to prevent prices from falling, or assist banks’ balance sheets is all a good thing. It wasn’t that long ago that FHA loans were being hailed as the new subprime. Shouldn’t the FHA rules be tightened, ensuring at the very least borrowers have more ‘skin in the game before unleashing this 90 day rule? Low down payment is a leading cause of foreclosures.

[34f3f3f]

I’m not so sure than anything the government does to prevent prices from falling, or assist banks’ balance sheets is all a good thing. It wasn’t that long ago that FHA loans were being hailed as the new subprime. Shouldn’t the FHA rules be tightened, ensuring at the very least borrowers have more ‘skin in the game before unleashing this 90 day rule? Low down payment is a leading cause of foreclosures.

[34f3f3f]

I’m not so sure than anything the government does to prevent prices from falling, or assist banks’ balance sheets is all a good thing. It wasn’t that long ago that FHA loans were being hailed as the new subprime. Shouldn’t the FHA rules be tightened, ensuring at the very least borrowers have more ‘skin in the game before unleashing this 90 day rule? Low down payment is a leading cause of foreclosures.

[Author]

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