So Long, FHA Seller Financing!

Posted by: adminchat in Seller finance, Housing Bill, Gift, FHA, Down Payment on Jul 30, 2008.

One of the caveats of the new housing bill that recently passed is the elimination of "gifting" money---seller-funded, down-payment assistance on FHA mortgages. This down payment assistance gave buyers who were unable to save for a down payment the ability to purchase a home with little or no down payment.

Many times, the seller will help the buyer by giving them all or a portion of their down

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FHA Waiving 90-Day Waiting Period

Posted by: Carleton Sheets in Resale, Rehab, Make Money in Real Estate, Flip, FHA on Jun 18, 2008.

I recently came across a headline that stated that the FHA (Federal Housing Authority) was waiving its 90-day waiting period for resales financed by FHA loans for one full year. Enacted in 2003, this 90-day "seasoning" period was introduced to prevent predatory lending practices and fraudulent flips ("overnight" flips, with dramatically higher sales prices).

However, in the current market,

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