Bradley Pounds Austin Real Estate

FHA Flips Anti-Flipping Rule (RECON, 2/2/10) The Federal Housing Administration (FHA) yesterday relaxed what is known as the “anti-flipping rule.” FHA now provides mortgage insurance for some purchases in which the seller bought the property and held it for fewer than 90 days. The change was made to speed up sales of renovated ...

(Nick Buitink is a mortgage expert/sales manager at Platinum Home Mortgage Corporation.) Nick, It's commonly understood that FHA loans are not supposed to emphasize credit scores (FICO scores) as much as the currently more difficult to obtain conventional loan market does.  580 is supposed to be the "magic number" that will ...