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Financing in 06484 : Real Estate Advice

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Activity 1
Thu Mar 5, 2009
Luke Allison answered:
Steven-

Unfortunately, no, you cannot do that. The 90-day Flip rule that was laxed recently has only to do when banks are reselling their REOs. Your buyers would have to wait 90 days to purchase your home via FHA. Now the postivies to this are such:
1) FHA loans are taking 45-60 days to close anyway so an extra 30 days is not too much in excess to you.
2) This rule does not apply to conventional financing so if your buyers have good credit, they can go that route.

Luke Allison
Flagstar Bank
828-777-8828
Luke.Allison@flagstar.com

Apply Online: flagstarloans.com/lallison
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