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Sat, 29/11/08 – 19:07 | No Comment

As a previous Asset Manager, I’ve managed hundreds of assets in my inventory. I have a working knowledge of REO Policies, Procedures and Practices. Benefit from the hands on corporate REO experience and knowledge I have gained by having the unique advantage of being exposed to this dynamic industry from both sides of the perspective . . . As an REO Asset Manager and as an REO Agent. (909) 476-9600

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Foreclosure/REO

REO is an abbreviation for a Real Estate Owned property. REOs and FORECLOSUREs are not the same thing. However, an REO is only produced as a result of a foreclosure where the lender has repossessed the property to re-sell.

Local Interest

Welcome to So California’s Inland Empire; Known as “The IE,” to locals. Find local and regional news, market conditions, and homes for sale; stay informed about issues that affect the San Bernardino / Riverside county economy.

Loss Mitigation

Loss Mitigation is used to describe a third party assisting in the process of negotiation between a homeowner and their lender. Loss Mitigation works to negotiate terms for the homeowner that prevents foreclosure.

Short Sales

A short sale is a sales transaction in which the seller’s mortgage lender agrees to accept a payoff less than the balance due on the loan typically executed to prevent foreclosure, but may or may not involve a property in foreclosure.

Home » First Time Buyer, Foreclosure/REO, Investment, Tips on Buying A Home

FHA Makes Exception On 90-Day FHA Anti-Flipping Rule

Submitted by Mykel on Sunday, 17 January 2010No Comment
FHA Makes Exception On 90-Day FHA Anti-Flipping Rule

Yesterday HUD Secretary, Shaun Donovan announced that they will temporarily remove the 90-day restriction on flipping properties. This change in policy will take effect on February 1, 2010 and is effective for one year. There will be certain conditions and guidelines to protect FHA borrowers from predatory “flipping” practices, where properties are quickly resold at elevated prices to borrowers.

To read the full HUD press release please visit:
http://bit.ly/8HUA7X

To see the actual HUD waiver visit:
http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf

This information is great news for Investors and is spreading all over Investor websites like a tidal wave.

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