Downers Grove North and South Top Schools!

The Chicago Tribune has included Downers Grove North and South High Schools (District 99) in their list of Top Chicagoland Schools!

http://www.chicagotribune.com/media/acrobat/2009-10/50168344.pdf

Short Sales and Foreclosure Resource SFR

I have just been approved with the Short Sales and Foreclosure Resource (SFR) certification program through the National Association of Realtors.

http://www.realtor.org/press_room/news_releases/2009/08/helps_short

My hope is that this will help me to serve my clients in new and better ways.

FHA 90 Day Anti-Flipping Rule Suspended!

Important news for all real estate investors! HUD just announced that, effective February 1, 2010, they are suspending the FHA 90 Day Anti-Flipping Rule.

With certain exceptions, such as HUD-owned and bank-owned properties, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. However, beginning Feb. 1, buyers may use FHA-insured financing to purchase properties resold through private developers and investors, providing access to a broader array of recently foreclosed properties.

Under the temporary waiver, all transactions must be arm's-length. In cases in which the sales price of the property is 20 percent or more above the seller's acquisition cost, the waiver will only apply if the lender meets specific conditions.

For more information about these changes please visit the HUD website.