I was told yesterday (6/18/09) that FHA will now require a property to be seasoned for at least 90 days after recording of deed before they will finance. If deed takes 2 months, that's 5 months before reselling. Also told that Fannie/Freddie property must be seasoned at least 6 months.
I'm meeting w/ my mortgage guy this morning, but wanted to see if anyone else could verify this info. It would kill a flip from the way I see it.
Eternal Equity Investments
Joshua 1: 8-9
"Study this Book of Instruction continually. Meditate on it day and night so you will be sure to obey everything written in it. Only then will you prosper and succeed in all you do. This is my command—be strong and courageous! Do not be afraid or discouraged. For the Lord your God is with you wherever you go.”