FHA Extends Waiver of Anti-Flipping Regulations Through 2012:

In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante will extend FHA’s temporary waiver of the anti-flipping regulations.   With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than [...]

FHA Loan Limits MIGHT Drop! Be Prepared…

FHA's increased loan limits are set to expire on 9/30 and while there is some hint these may be extended we need to proceed on the basis they will not! Our loan limits for the Chicago MSA will go from $410,000 to $365,000 for a SFR (those of you doing loans in Kankakee, Winnebego counties, [...]