Comments on: FHA foreclosures no longer require 90-day waiting period http://blog.foreclosure.com/2008/06/fha-foreclosures-no-longer-require-90-day-waiting-period/ Distressed Real Estate News and Opinion Thu, 02 Feb 2012 16:42:28 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Henry http://blog.foreclosure.com/2008/06/fha-foreclosures-no-longer-require-90-day-waiting-period/comment-page-1/#comment-10565 Henry Tue, 22 Jul 2008 17:47:52 +0000 http://blog.foreclosure.com/?p=450#comment-10565 This shows how important it is to get help as soon as possible to help people avoid losing their home. Working with a loss mitigation company can help people save their home, working with the lender. They can do it themselves but may be ill equiped to complete the necessary work in a timely manner. There are many non profit and for profit loss mitigation companies that can help. People should try it. Try not to go to one that charges up front. This shows how important it is to get help as soon as possible to help people avoid losing their home. Working with a loss mitigation company can help people save their home, working with the lender. They can do it themselves but may be ill equiped to complete the necessary work in a timely manner. There are many non profit and for profit loss mitigation companies that can help. People should try it. Try not to go to one that charges up front.

]]> By: jp moses | REI Tips http://blog.foreclosure.com/2008/06/fha-foreclosures-no-longer-require-90-day-waiting-period/comment-page-1/#comment-9705 jp moses | REI Tips Tue, 17 Jun 2008 17:44:44 +0000 http://blog.foreclosure.com/?p=450#comment-9705 When news of this came out a few days ago, we (investors) all made the mistake of assuming this would allow us to rewind back to pre-2003, when we could sell our flips to buyers with FHA financing without having to sit on the property for 90 days. After further scrutiny we were all sad to discover this FHA waiver only applies to properties while they're owned by the lenders who actually foreclosed or contracted vendors they've hired. So, as I sadly reported to my own blog readers, nothing changes for the investor in this waiver. Also, I'm not seeing how this is going to help lenders sell these foreclosures any better. Most of them are in need of notable repairs and thus won't qualify for FHA financing anyway. ...jp moses When news of this came out a few days ago, we (investors) all made the mistake of assuming this would allow us to rewind back to pre-2003, when we could sell our flips to buyers with FHA financing without having to sit on the property for 90 days.

After further scrutiny we were all sad to discover this FHA waiver only applies to properties while they’re owned by the lenders who actually foreclosed or contracted vendors they’ve hired.

So, as I sadly reported to my own blog readers, nothing changes for the investor in this waiver.

Also, I’m not seeing how this is going to help lenders sell these foreclosures any better. Most of them are in need of notable repairs and thus won’t qualify for FHA financing anyway.

…jp moses

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