But the surge in vacant properties resulting from borrowers who were unable to afford their mortgages has become far more pressing concern. 2 the other interpretation is that an investor can buy foreclosure and sell it to an FHA buyer within days. The new policy will allow homebuyers to purchase these homes in much greater numbers and ease the excess supply of unsold homes, Montgomery said. Ive seen two interpretations of this so far. Were discovering that lenders are interpreting this the same way..

A glut of foreclosed and abandoned homes harms neighborhoods, frustrates homebuyers and delays communitys recovery, FHA commissioner Brian Montgomery said in prepared statement. 1 its being interpreted as the banks doing the foreclosures can sell to an end user without having to honor the day rule. 2 the other interpretation is that an investor can buy foreclosure and sell it to an FHA buyer within days.

1 its being interpreted as the banks doing the foreclosures can sell to an end user without having to honor the day rule. believe that banks were always exempt from this anyway but Im not sure so Im inclined to think that 2 is the proper interpretation of this rule. Were discovering that lenders are interpreting this the same way.. A glut of foreclosed and abandoned homes harms neighborhoods, frustrates homebuyers and delays communitys recovery, FHA commissioner Brian Montgomery said in prepared statement.

WASHINGTON AP The Bush administration is temporarily suspending 5yearold rule intended to deter property flipping schemes, in which buyers are overcharged for foreclosures or other distressed properties. The new policy will allow homebuyers to purchase these homes in much greater numbers and ease the excess supply of unsold homes, Montgomery said. Ive seen two interpretations of this so far. 2 the other interpretation is that an investor can buy foreclosure and sell it to an FHA buyer within days.
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