Lendisphere

I hear and I forget. I see and I remember. I do and I understand. -- Confucius

We donate 1 1/2% of the proceeds from each new loan or refi to "No Kill" animal shelters in Colorado and Utah.

Q: FHA recently waived their flipping rule which previously mandated that a property would not be eligible for FHA mortgage insurance of the contract is executed within 90 days of the prior acquisition by the seller. According to the NEW RULES, if the property is purchased within that 90 day window, what percentage increase from the seller's acquisition cost triggers the need for supporting documentation of the increase in value, and an inspection report given to the buyer prior to closing? A: 20%!

If you want to test your memory, try to remember what you were worrying about one year ago today. - E. Joseph Cossman