FHA Has Suspended It’s 90 Day Title Seasoning Rule!

FHA Has Suspended It’s 90 Day Title Seasoning Rule!

from CameronDirect.com/blog/?p=31

The news from FHA today is beyond HUGE! They have suspended their 90 day rule beginning 2/1/10. This means we can now sell properties to FHA buyers without having to season the title for 90 days.

Since 2006 FHA, with only a few exceptions, has refused to finance a deal for a buyer, where the seller was not on title for at least 90 days from the time the buyer opens escrow. So for practical purposes that really meant +/- 120 days of ownership till you could close with an FHA buyer.

This has made it tough for investors like us because, lets face it, first time home buyers are where it’s at and the majority of them get their mortgages from FHA.

That’s why I’ve been teaching folks to flip junkers to investors and then they would fix and sell to the FHA buyer after they’d owned it long enough.

Well the flood gates have been opened. We can now sell direct to FHA buyers too! Short sale deals, REO’s, private seller deals, you name it!

There are some provisions of course but this is really huge. REALLY HUGE!

If you read the Waiver you’ll see it says that the seller has to be on title at the time of close. Don’t think for a minute that this rules out same day closings where we provide 1 Day Dough. Oh no.

We deal with that every day already, and close deals left and right where the buyer’s lender wants to see the seller on title before they’ll fund. It’s no big deal. We can handle it!




This is a very big thing for many of us. The idea that FHA will buy home loans without 90 days in seasoning means that if you are purchasing you can sell to a buyer that has FHA financing. This also means that you can purchase, refinance or purchase, sell and have the buyer refinance much easier. Considering that FHA is really the sub prime loan for today's market this is fantastic news for any investor using the buy and sell technique.


If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125

Good News for us

This is good thing esp. for us investors. We can start finding props. & selling to future buyers who needs FHA financing. I have a nurse who can qualify for this kind of financing,but she's worried that she can't afford because of student loan she is still paying.
I told her that if she can pay 1500 for rent right now, i can find her a house & still pay the same amount or even less.
I'm thinking of finding REO's but wonder if local banks would say yes to assignmets.

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