FHA 90-DAY SEASONING RULE Suspended for ONE YEAR!

This NEWS is HUGE for INVESTORS!  The 90-Day Seasoning Rule has made it difficult, if not almost impossible, for investors to buy and sell quickly to FHA first-time Home Buyers, because FHA currently requires that for a Buyer to utilize an FHA loan to purchase a home, the seller of that home had to be on Title for a minimum of 90 days.  This made it VERY DIFFICULT for small investors to market to First-Time Home Buyers with FHA loans, because they had to use hard money and incur carrying charges for 3 months to fulfill the requirement.  Starting February 1st, 2010, they can market and sell directly to a First Time Home Buyers without the wait!

Talk about…”MONEY IN THE STREETS”???!!!!

Have PLENTY fun in 2010!

http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-011

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