Effective for all FHA case numbers assigned on and after September 19th 2008 to further notice.
A Borrower cannot use rental income to offset the payment on their departure residence without very specific and narrow exceptions.
The old guidelines when someone wanted to rent their current residence out to buy a new home, FHA guidelines permitted the Rental Income being used to offset the mortgage payment used in Debt-to-Income ratios.
FHA has released the mortgagee letter nationwide found here HUD LETTER
This is due from the simple fact that many homeowners have been found guilty of the "Buy and (11 comments)
With the increase in FHA production in the last few months, there has been a lot of confusion on seasoning issues.
With the market being a great investment for investors wishing to buy and sell houses, theres a major factor that gets overlooked many times.
Please arm yourself with knowledge so you won't delay a closing or lose out on a lot of money.
Financing through a FHA deal the seller must own the property (be the owner of record) for at least 90 days before he can sell the property. (He can go to contract on day (35 comments)
investment: Refinance Cashout on your Rental? Use this Free Tool to Decide (Rentometer.com)
- 05/12/08 08:39 PM
Need to tap into your Rental property?
Investment Properties are hotter than ever with all the current Short Sales anf Foreclosures going in the market.
So now that you captured a rental property and are utilizing a stable rental income for quite some time now, it has come to attention than an unxepected financial need arises and have to decide if tapping into your investment property is worthwhile.
Analyzing your Rental income, Mortgage and Rental Lease
There's 3 main factors come into play with your Rental are as follows
Rental Mortgage: - Does your investment property have a mortgage tied (3 comments)
investment: The Magic 8 Ball On Investment Properties
- 05/08/08 01:11 AM
I came across this hot upcoming start up website made specifically for Investors, Realtors and Brokers. It has the unique feel of simplicity like most successful giants in the dot come world currently possess like Google.com. Don't let the simplicity fool you though, it packs a mean punch.
Website here http://www.krunching.com
“Wonder if a property is a good deal? Is it time to sell? Krunch it and find out! Select any property in California and get an instant investment analysis.”
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