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    Wanna flip a bank owned property?

    The Federal Housing Administration (FHA) is extending the temporary waiver of its property anti-flipping rule through the end of 2012.

    FHA rules typically prohibit insuring a mortgage on a home owned by the seller for less than 90 days. In 2010, however, the agency waived this regulation, and later extended the waiver through 2011.

    The new extension announced late last week will permit buyers to continue to use FHA-insured financing to purchase HUD-owned and bank-owned properties, no matter how long the homeowner has held the title, through December 31, 2012.

    FHA says the waiver will allow homes to resell as quickly as possible, helping to stabilize real estate prices and revitalize communities experiencing high foreclosure activity.

    http://www.dsnews.com/articles/fha-waives-anti-flipping-rule-through-year-end-to-speed-reo-sales-2012-01-03

    Lisa Schoeffler, CRS, ASP
    Prudential California Realty
    805-766-7373
    GaryandLisa.com
    A member of HomeServices of America, Inc.
    a Berkshire Hathaway affiliate

    • 9 January 2012
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  • Gary and Lisa Schoeffler's Space

    Enjoy the peace of mind that comes with relying on an experienced and trusted team of advisers. With a combined 70 years of experience behind them they have a proven track record and hundreds of satisfied clients to reflect their dedication and professionalism. Gary is the Associate Broker for the Prudential Ventura office. The team was awarded the Chairman's Circle Award for 2009, a distinction which is given to the top 2% of Prudential's 60,000 sales professionals. Lisa combines her extensive sales and marketing background with a Bachelor of Arts degree in Management and a minor in Economics. Lindy, a Ventura County resident for 40 years, is an amazing resource to anyone relocating to this area as well as those who wish to remain here.

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  • About Gary and Lisa Schoeffler

    Enjoy the peace of mind that comes with relying on an experienced and trusted team of advisers. With a combined 70 years of experience behind them they have a proven track record and hundreds of satisfied clients to reflect their dedication and professionalism. Gary is the Associate Broker for the Prudential Ventura office. The team was awarded the Chairman's Circle Award for 2009, a distinction which is given to the top 2% of Prudential's 60,000 sales professionals. Lisa combines her extensive sales and marketing background with a Bachelor of Arts degree in Management and a minor in Economics. Lindy, a Ventura County resident for 40 years, is an amazing resource to anyone relocating to this area as well as those who wish to remain here.

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