Posts Tagged ‘real estate’

California, San Diego: 90 Day Flip Rule Lifted for All Sellers

Tuesday, January 19th, 2010

Here is the remarkable news for all who are going to buy or sell their California property in 2010!  Widely famous 90 day flip rule has been provisionally suspended for all sellers effective February 1, 2010 and the waiver shall come to the end one year from February 1, 2010.  The regulations at the Urban Development Act ensure that a mortgage for a property will not be eligible for FHA insurance if the contract of sale for the purchase of the property is executed within 90 days of the prior acquisition by the seller, and the seller does not come under any of the specific exemptions that apply to the 90-day rule.

This document takes effect on February 1, 2010.  This waver regulates all the transactions which are arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales bargain.


Tags: , ,
Posted in Business News, National economy | No Comments »

Banks will cut rates…

Monday, October 5th, 2009

To tell you the truth I’m not so keen on financial news (it’s more interesting for me to follow real estate market and especially homes for sale by owner in our local news) or on stuff of this kind, but thanks to my husband who is really crazy about I know more or less update info about the financial situation in the country. Yesterday for example he was trying to explain the fact that the banks are likely to cut mortgage rates because the government has increased the prices in bonds markets.

Firstly he explained everything about bond markets and their connection with mortgage rates. According to his words, banks and lenders will low the rates as they don’t want to lose their profits. Everything is going on because of the swap rates and very soon we will be offered low cut mortgage rates.

But at the same time the banks are not so eager to cut their rates as the demand is very high on mortgages than the supply, and the cut the flow will increase. For me as a customer it might be much better to get a loan at low rates, but you know everything is so unstable in this world and who knows what’s going to happen.

Maybe, one day, we’ll have to pay twice more on the same loan, trying to satisfy the bank’s needs.

Tags: , , ,
Posted in Business News, National economy | No Comments »