- This topic has 45 replies, 5 voices, and was last updated 15 years, 6 months ago by
JACKQLYN.
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June 17, 2009 at 2:52 PM #15903June 17, 2009 at 3:30 PM #416870
IONEGARM
ParticipantIt was renewed
June 17, 2009 at 3:30 PM #417436ParticipantIt was renewed
June 17, 2009 at 3:30 PM #417369ParticipantIt was renewed
June 17, 2009 at 3:30 PM #417597ParticipantIt was renewed
June 17, 2009 at 3:30 PM #417107ParticipantIt was renewed
June 17, 2009 at 3:54 PM #417612SDEngineer
ParticipantDon’t think this would be a large hurdle to get past anyway.
I suspect there’s not a lot of REO’s on the market that would not already have met the seasoning requirement even without the waiver. 90 days is a pretty fast time to market for a REO I think, and if the seasoning requirement is based on the close date, it’d be even less likely to be an issue, since FHA buyers would probably be ok looking at a house only 60 days seasoned.
There aren’t even very many flippers that would get hit with this requirement. Now if it required a year of seasoning, that would be a large hurdle to get past.
June 17, 2009 at 3:54 PM #417122ParticipantDon’t think this would be a large hurdle to get past anyway.
I suspect there’s not a lot of REO’s on the market that would not already have met the seasoning requirement even without the waiver. 90 days is a pretty fast time to market for a REO I think, and if the seasoning requirement is based on the close date, it’d be even less likely to be an issue, since FHA buyers would probably be ok looking at a house only 60 days seasoned.
There aren’t even very many flippers that would get hit with this requirement. Now if it required a year of seasoning, that would be a large hurdle to get past.
June 17, 2009 at 3:54 PM #417452ParticipantDon’t think this would be a large hurdle to get past anyway.
I suspect there’s not a lot of REO’s on the market that would not already have met the seasoning requirement even without the waiver. 90 days is a pretty fast time to market for a REO I think, and if the seasoning requirement is based on the close date, it’d be even less likely to be an issue, since FHA buyers would probably be ok looking at a house only 60 days seasoned.
There aren’t even very many flippers that would get hit with this requirement. Now if it required a year of seasoning, that would be a large hurdle to get past.
June 17, 2009 at 3:54 PM #416886ParticipantDon’t think this would be a large hurdle to get past anyway.
I suspect there’s not a lot of REO’s on the market that would not already have met the seasoning requirement even without the waiver. 90 days is a pretty fast time to market for a REO I think, and if the seasoning requirement is based on the close date, it’d be even less likely to be an issue, since FHA buyers would probably be ok looking at a house only 60 days seasoned.
There aren’t even very many flippers that would get hit with this requirement. Now if it required a year of seasoning, that would be a large hurdle to get past.
June 17, 2009 at 3:54 PM #417384ParticipantDon’t think this would be a large hurdle to get past anyway.
I suspect there’s not a lot of REO’s on the market that would not already have met the seasoning requirement even without the waiver. 90 days is a pretty fast time to market for a REO I think, and if the seasoning requirement is based on the close date, it’d be even less likely to be an issue, since FHA buyers would probably be ok looking at a house only 60 days seasoned.
There aren’t even very many flippers that would get hit with this requirement. Now if it required a year of seasoning, that would be a large hurdle to get past.
June 17, 2009 at 5:52 PM #417677(former)FormerSanDiegan
ParticipantPrior to this, how often were homes sold to FHA buyers that were also purchased within 90 days prior to that FHA purchase ?
I think this is only a major problem for the commercial flippers (e.g. Bruce Norris) who have the machinery in place to rehab properties within 30 days or less. Still, they have to market and get it sold.
It is not really a removal of buyers from the pool, more like a removal of available properties and an increase in the time (and therefore money) required by the flippers.
June 17, 2009 at 5:52 PM #417187ParticipantPrior to this, how often were homes sold to FHA buyers that were also purchased within 90 days prior to that FHA purchase ?
I think this is only a major problem for the commercial flippers (e.g. Bruce Norris) who have the machinery in place to rehab properties within 30 days or less. Still, they have to market and get it sold.
It is not really a removal of buyers from the pool, more like a removal of available properties and an increase in the time (and therefore money) required by the flippers.
June 17, 2009 at 5:52 PM #417449ParticipantPrior to this, how often were homes sold to FHA buyers that were also purchased within 90 days prior to that FHA purchase ?
I think this is only a major problem for the commercial flippers (e.g. Bruce Norris) who have the machinery in place to rehab properties within 30 days or less. Still, they have to market and get it sold.
It is not really a removal of buyers from the pool, more like a removal of available properties and an increase in the time (and therefore money) required by the flippers.
June 17, 2009 at 5:52 PM #417515ParticipantPrior to this, how often were homes sold to FHA buyers that were also purchased within 90 days prior to that FHA purchase ?
I think this is only a major problem for the commercial flippers (e.g. Bruce Norris) who have the machinery in place to rehab properties within 30 days or less. Still, they have to market and get it sold.
It is not really a removal of buyers from the pool, more like a removal of available properties and an increase in the time (and therefore money) required by the flippers.
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