eugene oregon first time home buyers investors: A New Policy That Helps Investors and First Time Home Buyers Both
- 02/04/11 04:52 PM
For years the federal government prohibited mortgage financing for buyers purchasing homes from sellers who had owned the property for less than 90 days.
The idea was to prevent speculators from defrauding the government through quick flips of houses - often involving straw buyers and corrupt appraisers - at wildly inflated prices. We can all agree that was a good intention.
However, a side effect of that policy had been to stifle purchase-and-renovate projects by legitimate, small-scale investors who buy houses after foreclosure or loan defaults and then resell them in substantially improved condition. In many parts of the country, first-time (0 comments)
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