The FHA Less Than 90 Day Flip Rule Waived In Arizona and California for 2012

Today 12/23/11, FHA declared that the 90 Day Flip rule be waived and extended up to 12/31/2012, unless withdrawn or extended by FHA in Arizona and California. 

As you can already know many Arizona and California investors, agents and buyers are glad to know that the less than 90 Day FHA Flip Rule has been extended.  I hope that FHA comes to their senses and gets rid of the less than 90 Day FHA Flip Rule in Arizona and California, all together.   The less than 90 Day FHA Flip Rule was originally enacted to prevent the predatory practice of property flipping in Arizona and California; this means properties that are quickly resold at inflated prices to unknowing Arizona and California borrowers and where the property does not meet FHA's standards that protects Arizona and California home buyers from possibly costly repairs and/ or the property is deemed inhabitable; but with FHA's less than 90 Day FHA Flip Rule waiver, FHA have enough safe guards in place that this would prove to be very difficult to do.

To learn more about FHA Less than 90 Day Flip Rule Waiver in Arizona and California

Finance more than ten (10) properties in Arizona and California

Call me TODAY For more information @ 480.650.8602



Academy Mortgage is now providing a tool to assist borrowers’ that own and/or want to finance 5-10 properties that are looking to add to their investment portfolio or a 2nd home purchase when they have exceeded our standard policy of a maximum of 4 financed properties. This change should have an immediate positive sales opportunity for your realtor relationships that cater to these more experienced borrowers.

  The parameters for these loans are as follows: click here for information on how to finance more than 10 properties in Arizona and California

Who would say that despite the Dow closing above 11,000 for first time since May 2010 and after a decline in jobs that both would allow the release of the Mortage Backed Securitie to issue aggressive rates that allow escape from it's threshold of pain..  

I work at a National mortgage company, Academy Mortgage, and after congregating and talking around the water cooler in the office, it was made obvious that none of us Loan Originators noticed the mortgage/ home loan rates being so drastically low.  Who knows maybe since it is a long weekend we just all weren't thinking or worried based on our knowledge of the market (It's slow around a holiday weekend. Rates stay unchanged for the most part).. 

However, the rates are currently

• Conventional rates are at 3.875%
• FHA rates are at 4.00% 

Of course there are some downpayment and/or credit requirements that have to be met and reviews.  Let me know if you have questions or like to discuss the madness.

Ted Canto

Mortgage Consultant

Academy Mortgage

Direct: 480.650.8602     

Office: 480.344.3671  
Fax:  480.374.6958 

Email: ted@tedcanto.com

NMLS #: 228393

$8000 & $6500 Tax Credit for Homebuyers

If you are like many Americans thinking about buying a home and would like to learn more about the $8,000 & $6500 Tax Credit and have questions, you will find this post useful.  You are not alone but your time is running out.  April 25, 2010 is approaching and contrary to some people's belief, the tax credit is not going to be extended again.  The Feds have signaled that the stimulus is working and there is no more need for an extension of the $8000 & $6500 tax credit, for many reasons that will distract us from the following information.

So what are the details to $8,000 First-time Home Buyer Tax Credit Expansion? (Read More)