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FHA Lifts Seasoning Requirements

FHA Lifts 90-Day Seasoning

Pay4Pad LLC - Tuesday, June 08, 2010
The news is spreading fast... on Jan 15, 2010 the FHA has lifted the 90-day seasoning requirement! It begins on February 1st, 2010 and lasts for one year.

What is this about?

Previously the FHA has required that a house is "seasoned" for 90 days before resale. So, after closing, you had to wait 90 days before you could sell to an FHA buyer. This prevented investors from quickly flipping their properties.

Why have they changed their mind?

The policy change will help sell properties that otherwise remain vacant for 90 days while the investors wait to sell the property to an FHA home buyer.

How does this affect us?

The new regulations will allow you to buy a property and put it right on the market. This will allow you to make money quickly and efficiently.

To read the "official" HUD ruling

http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf

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