Another reason to ONLY buy notes in 2008


	Another reason to ONLY buy notes in 2008

dquinter

6-21-2008 1:38 AM

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tags:

notes, real estate, foreclosure, fha, seasoning

dquinter says:

Here's why we have to open our private money fund ASAP.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e9da584a-e67a-47e8-b60e-90fb94f5fab5/AA5A9F8E-4CB0-42C8-BDF3-48FEE7453525/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://briandickersonflips.com/blog/?p=39" href="http://briandickersonflips.com/blog/?p=39" style="font-size: 11px;">briandickersonflips.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://briandickersonflips.com/blog/?p=39"><P><STRONG>To summarize:
</STRONG>1. FHA no longer requires 90-day seasoning, but <EM>only on properties aquired through foreclosure</EM>.
2. FHA still requires houses be in “safe, secure and sound” condition.
3. This lifting of the seasoning requirement is for one year. It started on June 9, 2008, and continues through June 9, 2009.
4. <STRONG>MOST IMPORTANTLY, THIS WOULD ONLY HELP YOU IF YOU BUY NOTES OR HOLD MORTGAGES.</STRONG> If you are buying properties through the foreclosure or REO process, you still have to wait 90 days with FHA buyers.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/AA5A9F8E-4CB0-42C8-BDF3-48FEE7453525/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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