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Tag: "FHA"

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!


Overwhelmed by Short Sales?

Are you overwhelmed by the sheer complexity of short sales?

The number of balls that you have to keep in the air!

The resistance that you can experience from “real estate professionals” who don’t
understand what you’re trying to do!

Your lack of experience?

The bad press about foreclosure scams?

All these elements can make it pretty difficult to muster enough
confidence and commitment to get your first (or your next) deal
done.

In fact, I just received an email from Alan today. Here is what he says:

Tom, the problem with D.C,s program [D.C. Fawcett] is u need to find a realtor, and u say short sales and they freak, they want no part of it,so it,s alot more difficult than he say,s, u and I both know that,Micheals [Michael Kimble] takes a long time to get a response after sending out 10,000 post cards, the same with Stacey,s [Stacy Kellam],and Nate,s [Nate Kennedy] who the hell has 3,000 dollars when first starting,same with Josh, i,ve come to realize it,s all about selling these programs than property itself,which I have no problem with,but it,s very deceitful,and I guess that,s what it take,s to make any money,hit the poor man,just trying to support his family,thank u Alan

You have some options of course.

You can choose between about 25 more or less reputable courses
or training programs that claim to enable you to get your own
short sale pipeline lined up.

You can also go out on your own, call up a bunch of realtors,
escrow companies and title agents and see if you can get
educated enough by the professionals to “get in the game”.

Or you can say “Forget it! It’s all a scam anyway”, and keep
doing what you’ve been doing o far.

Have you noticed?

Over the past 2 weeks even, it seems as if the “marketing pressure cooker”
has become more heated than ever.

Grilling you on your fear of loosing out.

Nagging on your desire to change your life.

Teasing you about your indecisiveness.

Maybe you’ve even jumped on opportunities before…

What did you get?

Information?

Education?

Deals?

Or Disappointment,

more financial stress,

and frustration?

Maybe the new FTC rulings will do something good in
curbing testimonials that let you fall for false promises.

Now let me give some answers to Alan

1. Yes, it will take some time and energy (and possibly money) to set up
your short sale business correctly.

2. No, none of these “businesses in a box” will pour thousands of $$$’s
into your lap whilst you continue everything as you are now (that includes
your mind, your actions, and your commitment to make it work).

3. Most of your issues revolve around having a false understanding
of who provides value in a short sale (you!), and who needs this
(everybody else).

Stay tuned! I will release a FREE PDF report with all the details about this
this coming Wednesday (I hereby commit to you!)

Please leave your most burning short sale questions
as well as any tips or your own experiences as a comment below!

Your feedback is vitally important to me. Thanks for reading!

Thanks even more for writing a comment :)

Talk soon!

Thomas