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new rules for FHA loans

10 years ago

Had lunch with a friend who is still an active RE agent, and she said that on some date in August, FHA loans will go to a full 7 years on past bankruptcies, and added time for short sales, as well. I think it's true of Fannie Mae lenders, too.

She thinks it will pull the bottom end out of the buyer pool for lower price/low down payment properties and could turn a sellers' market into a buyers' one.

Any thoughts?

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