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Misinformation floating around the ‘net – Help from a local mortgage professional in Macomb County

June 18th, 2008 · No Comments · fha mortgages and first time home buyers

Kris Wales a Macomb County MI real estate agent

Within the past few days I have been reading many articles
floating around the ‘net about HUDs latest announcement
in regards to its 5 year old Anti-Flipping regulations.

(In a nutshell, HUD would not insure any home mortgages in which the home had been purchased and flipped within 90 days of the new buyer purchasing it.)

This past week HUD announced that they were waving the requirement that 90 days would have to pass before another buyer could purchase the home under certain conditions: The homes must be owned by banks and lenders. Homes owned by private investors (rehabbers..) are still excluded in the language of the waiver.

When I want factual information regarding news that is being reported I go
to my local professionals. In this case when I read the news that this waiver
was happening I talked with Mike Caira of Great Lakes Mortgage Funding in Shelby Township. Mike has been my “go to” professional for several years now and I wouldn’t be able to conduct my real estate business without him.

When I want the facts, I get them. When I need an update, I get that also.

If you have any questions about information that you are reading regarding the mortgage market or have a concern as a home buyer in Macomb County MI please contact Mike Caira at 586-532-0600. I can assure you he would
be happy to take the time to answer your questions or address your concerns in a non-pressured atmosphere.

~Kris Wales~

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