Comments on: FHA Amends Anti-Flipping Rule http://www.fhaloanpros.com/2008/06/fha-amends-anti-flipping-rule/ The Unofficial Guide to FHA Loans & Mortgages Mon, 01 Dec 2008 20:17:48 +0000 http://wordpress.org/?v=2.6 By: G. Michael http://www.fhaloanpros.com/2008/06/fha-amends-anti-flipping-rule/#comment-29471 G. Michael Tue, 11 Nov 2008 16:54:11 +0000 http://www.fhaloanpros.com/2008/06/fha-amends-anti-flipping-rule/#comment-29471 Kelli, I know this is old news, because you've probably long since closed your loan, but it's a standard procedure on FHA loans to ask for a 2nd appraisal when the value of the home has increased by 100% or more since the last sale. When investors buy and remodel homes, they have to justify the new selling price with documentation including the 2nd appraisal. Kelli,
I know this is old news, because you’ve probably long since closed your loan, but it’s a standard procedure on FHA loans to ask for a 2nd appraisal when the value of the home has increased by 100% or more since the last sale. When investors buy and remodel homes, they have to justify the new selling price with documentation including the 2nd appraisal.

]]> By: kelli mays http://www.fhaloanpros.com/2008/06/fha-amends-anti-flipping-rule/#comment-20316 kelli mays Mon, 14 Jul 2008 18:36:16 +0000 http://www.fhaloanpros.com/2008/06/fha-amends-anti-flipping-rule/#comment-20316 I have an FHA approval. Was suppose to close today. Then the UW comes back with "FHA requires a 2nd appraisal by another company" What?!?!?!?1 Apparently, the seller purchased the house for half of what he's selling it for. It's been longer than 90 days. There are FOUR (4) GoOD comps in the appraisal. I don't understand why this is being required!?!??!?! now another appraisal cost of $425. what kind of )&@$)*$ is this??? I have an FHA approval. Was suppose to close today. Then the UW comes back with “FHA requires a 2nd appraisal by another company”

What?!?!?!?1 Apparently, the seller purchased the house for half of what he’s selling it for. It’s been longer than 90 days. There are FOUR (4) GoOD comps in the appraisal. I don’t understand why this is being required!?!??!?! now another appraisal cost of $425. what kind of )&@$)*$ is this???

]]> By: Bill http://www.fhaloanpros.com/2008/06/fha-amends-anti-flipping-rule/#comment-16840 Bill Thu, 19 Jun 2008 22:45:49 +0000 http://www.fhaloanpros.com/2008/06/fha-amends-anti-flipping-rule/#comment-16840 Joe you crack me up:-) Go rent an apartment. You filed bankuptcy dude!!! I wouldn't want to loan you any money...bankruptcy simply means your not opposed to telling your creditors to kiss it..."I'm going to borrow this money from you ...but I might not pay it back" If you could afford a 290000 house, thats what you should've bought duhhh!! Wilson Joe you crack me up:-) Go rent an apartment. You filed bankuptcy dude!!! I wouldn’t want to loan you any money…bankruptcy simply means your not opposed to telling your creditors to kiss it…”I’m going to borrow this money from you …but I might not pay it back” If you could afford a 290000 house, thats what you should’ve bought duhhh!!

Wilson

]]> By: Joe Radzikowski http://www.fhaloanpros.com/2008/06/fha-amends-anti-flipping-rule/#comment-16595 Joe Radzikowski Wed, 18 Jun 2008 23:58:15 +0000 http://www.fhaloanpros.com/2008/06/fha-amends-anti-flipping-rule/#comment-16595 Hello Im trying to find out if rewriting the loan on my home is possible, Im currently in a tough position , I cannot afford the mortgage and will be forclosed on. Ive filed Chapter 7 , I was advised by my mortgage co to shortsale the property. I want to stay and if the mortgage was according to the current value of the home I could pay the mortgage, the house was worth 460,000 and is being offered on the shortsale as 290,000 , why sell it to someone else?  I could afford to pay a loan for 290.000, Can HUD REWRITE A MORTGAGE? NO ONE HAS RESPONDED TO ME AND I HAVE GONE FROM 2700 TO 4400 A MONTH, I CAN AFFORD AROUND 2000 A MONTH. DOES HUD HAVE LOANS AVAILABLE AT UNDER 2000 A MONTH, I ALSO HAVE FAMILY HELP AND OTHER OPTONS . JOE Hello Im trying to find out if rewriting the loan on my home is possible, Im currently in a tough position , I cannot afford the mortgage and will be forclosed on. Ive filed Chapter 7 , I was advised by my mortgage co to shortsale the property. I want to stay and if the mortgage was according to the current value of the home I could pay the mortgage, the house was worth 460,000 and is being offered on the shortsale as 290,000 , why sell it to someone else?  I could afford to pay a loan for 290.000, Can HUD REWRITE A MORTGAGE?

NO ONE HAS RESPONDED TO ME AND I HAVE GONE FROM 2700 TO 4400 A MONTH, I CAN AFFORD AROUND 2000 A MONTH.

DOES HUD HAVE LOANS AVAILABLE AT UNDER 2000 A MONTH, I ALSO HAVE FAMILY HELP AND OTHER OPTONS .
JOE

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