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HUD Waives 90-Day Seasoning

It has been kind of expected among real estate and mortgage professionals. Today came the official announcement from the HUD office.

As of 2/1/10, FHA buyers can buy properties that have been owned by the seller for less than 90 days.

Of course, there are some strings and conditions attached. Watch this video for details…


Resources:

Release text

PDF of detailed conditions

What do you think about the impact of this temporary waiver? Engage and leave your comment below!


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Category: short sale, wholesale

Comments (3)

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  1. Gordon says:

    It is about time they got rid of this stupid 90 day flip rule. My last rehab was vacant for a month and a half waiting for the fha buyer and some idiots broke the windows trying to get in. It is also good they have those conditions when the increase of value is more than 20 percent. The end buyer should get a quality improved home if they are paying retail.

  2. Leon says:

    I would first like to thank you for the email that you sent. I’m a novice investor and I just received my LLC package because I need to do my business the right way and i thank you for all the information that i can see at your website. I’ve read alot of advice from real estate investors how ever your information to me is far better then any information that i read on the other sites. Right now I have you on my favorites site. Please keep up the great work that you are doing.

    Thank you

    Leon Bullock

  3. Thomas,

    Thank you for a straight forward explanation of the new HUD ruling. Every wholesaler needs to know this information. And thanks for the PDF document on the subject.

    You always keep us informed.

    Thanks,
    Loretta

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