Welcome to the Real Estate Law weblog. Here you'll find items pertaining to real estate from a lawyer's perspective.
Tue Jun 13, 2006
New Flipping Rules from HUDToday's Inman News reports on new anti-mortgage fraud FHA regulations of significance to flippers.
If you're looking to sell an investment property to someone seeking FHA insured financing, new rules issued by the agency need to be examined.
Under the rules, effective in early July and intended to inhibit predatory lending on overpriced properties, FHA financing will not be available for sales of homes purchased by the Seller within the previous 90 days. Further, to be eligible for FHA financing, the Seller must be the actual owner of record.
There are some exceptions, of course, but none that undermine the purpose of the rule.
For more, see http://www.inman.com/hstory.aspx?ID=53130
Disclaimer. The material provided on this site is for information purposes only and its availability to you does not establish an attorney-client relationship nor constitute legal advice. If you are interested in becoming a client of Hollander and Company LLC, please contact Jay Hollander, Esq. at firstname.lastname@example.org.
Hollander and Company LLC
386 Park Avenue South
New York, NY 10016-8804
Telephone: (212) 576-1061
Facsimile: (212) 576-1078
Directions to our Office.
© Hollander and Company LLC 2003. All rights reserved