FHA Relaxes Resale Requirements!

So on the lending front many things have changed. The FHA loan program which is driving the majority of sales in todays market has adjusted multiple times and recently there has been another adjustment, which might just make it more attractive for purchasers to take a chance on a foreclosed property in disrepair. For years the FHA required purchasers must put 3% of the sales price into the deal. Yet limited their responsibility to that, meaning any additional fees the seller was required to pick up the slack on behalf of the purchaser.

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