by Tina Merritt
As some of you may know, selling a property you have owned for less than 90 days to an FHA buyer has been virtually impossible for the past few years due to HUD seasoning guidelines.
On January 15, 2010 David Stevens, the Assistant Secretary for Housing, waived the existing guidelines regarding the seasoning issues until February 1, 2011.
To read the amended guidelines, here is the link:
http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf
Unfortunately, some lenders are not following these new guidelines and are still holding to the old with regards to FHA loan approvals.
I recommend the following if you are in a situation where you are trying to sell a home you have owned for less than 90 days and find yourself with an offer from an FHA buyer: inform the lender of the date you purchased the property and offer a list of improvements you have made. Then, send a copy of the new guidelines and request a statement from the lender's underwriting department that they will honor the amended guidelines issued by HUD.
Tina Merritt is an 11 year veteran Real Estate Agent and Trainer based out of Virginia Beach, Virginia. She holds a degree in economics from Virginia Tech and post-baccalaureate from Virginia Commonwealth in real estate and land development. As an avid social networker and internet marketer, Tina helps real estate agents, loan officers and affiliated industries embrace technology. As a real estate agent, Tina primarily deals with marketing and selling properties deemed "hard to sell" and also works with real estate investors helping them build and/or liquidate their portfolios for maximum profit.
I am very excited to return to the original premise of The Apprentice. We’ve got to do something about the economy and this is a terrific way to provide jobs as well as business lessons along the way. NBC, Mark Burnett and I hope this economic downturn can begin a turnaround, and we’ll do our best with The Apprentice to see that it starts happening. I’m proud to be putting people back to work, and to positively changing the psychology of America.
I can’t believe that Rosie O’Donnell, after all her failures, is about to be given another shot. She’s crude, arrogant, and not very smart. She’s a bully at the highest level and sadly, other than me, very few people have hit her--figuratively--hard between the eyes--which is what you must do with a bully. Elisabeth Hasselbeck did and came out great. Ultimately, Barbara Walters did, but very light handedly, and nevertheless, remained the Barbara we all know and love.
The majority of sellers and listing agents do not research crime statistics for their area. For the most part, the rules regarding disclosure of crime do not fall on the seller, but on the buyer to find out for himself.
I am very pleased to inform you that The World Travel Awards (