Dawn Barrier REALTOR®, 's Blog,LAS VEGAS BLOG

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FHA FLIP RULE coming to an end--North Las Vegas Real Estate Agent-Dawn Barrier

Tom Bashe - Temecula Real Estate did a great blog post on...

The FHA 90 day flip Rule waiver EXPIRES MONDAY!

I also did a blog post a while back......

FHA FLIP RULE WAIVED--HUD Waives the 90 day Flip Rule for 1 Year with Conditions

This is most likely going to hurt North Las Vegas real estate sales as well as Las Vegas and the whole nation.

Many flippers who are buying homes on the courthouse steps will now have their homes sitting on the market longer. JMO

Dawn Barrier    EXP REALTY Las Vegas   (702) 812-4550 

 
 
 
 
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eXp Realty Dawn Barrier

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Comment balloon 4 commentsLas Vegas Real Estate Agent Dawn Barrier • December 17 2010 03:28PM

Comments

To date, HUD has not given any additional directives other than the expiration date of January 31, 2011.  They have set no date that FHA Case #'s must be pulled by. 

While some lenders are putting out their own requirements (i.e. pull the FHA Case # by 12/20, or 12/10 as you posted last week), those are NOT industry deadlines.  Others lenders will still be pulling FHA Case #'s all next week and until further notice.  Some lenders like us, sell directly to Ginne Mae.  That means we are not always subject to the overlays of other lenders

FHA 90 Day Flip Financing Is Still Available

Posted by Rodney Mason, AL, GA, SC, & TN (Guaranteed Rate) almost 9 years ago

Thanks Rodeny for some clarification!  Tom posted the first recent blog about the case info, I posted the one from back in January 

FHA FLIP RULE WAIVED--HUD Waives the 90 day Flip Rule for 1 Year with Conditions

which reference the Hud site article which like you said, references a later date for the flip rule expiration.

It would be great if they could announce an extension!

Posted by Las Vegas Real Estate Agent Dawn Barrier, South Las Vegas, Henderson, Summerlin Homes (eXp Realty) almost 9 years ago

You are most welcome.  Given that the market is not that much different today than 11 months ago, I would be surprised if it does not get extended for at least another year at a minimum.

Posted by Rodney Mason, AL, GA, SC, & TN (Guaranteed Rate) almost 9 years ago

Well, lets hope it does and here in Las Vegas we still have a lot to get thru and a big hurdle that is still affecting everyone is the lack of jobs and the high unemployment rate.

Posted by Las Vegas Real Estate Agent Dawn Barrier, South Las Vegas, Henderson, Summerlin Homes (eXp Realty) almost 9 years ago

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