FHA 90-Day Flipping Rule Update

As of February 1, 2010, the FHA will be waiving their 90-Day Rule for flipping houses. The waiver is planned for 1 year, This is good news for many investors. Actually it is great news for the entire market. One of the most robust parts of the markets has been investors buying these home cash and then regular home buyers purchasing these houses with FHA financing. I think this is a great move by FHA to keep 2011 headed in the right direction.

SPECIAL NOTE: **Many lenders are not accepting FHA's guidlines on flipping properties. Fortunately, we currently have the ability to do these loans. Please call me if you need help with any of these transactions as there are special requirements and they need to be done correctly from the beginning.

FOREIGN NATIONAL PROGRAMS MAKE A COMEBACK

As many of you know, loans for foreign nationals have became few and far between. Recently we have made the effort to re-establish relationships with some of the lenders that are beginning to offer these programs again. So YES, we can do these loans. YES, there are, as always, special guidelines for these loans. please call if you have clients overseas that want to buy in the area. In my opinion, there is also a huge pool of buyers and sales for those of you who want to pursue this as there has been very few lenders loaning to foreign nationals here in Florida. If you would like the details on these programs please give me a call or send mean email and I can go over the program with you. My commitment, as always, is to make sure I am up to date with all the current guidelines and requirements for all the programs available in our market.

Rayce Robinson      

"Creating clients for life, one mortgage at a time"    

Fidelity Funding Mtg. Corp       

Cell:    321-377-4211

Fax:     407-902-0081

E-mail:  mortgages@raycerobinson.com

150 Cranes Roost Blvd, Ste 2250

Altamonte Springs, FL 32701