Louisville and Jefferson County Kentucky Real Estate Home Info Links


Map of Kentucky highlighting Jefferson County
Image via Wikipedia

Louisville and Jefferson County Kentucky Real Estate/Home Info Links

 

Property Transfers: Recent home sales in Jefferson, Bullitt and Oldham Kentucky Counties in Kentucky

Vacant Jefferson County Kentucky properties

Bank properties owned in Louisville Ky Repossed Homes

OTHER RESOURCES

Jefferson County Kentucky PVA property search

Jefferson County Ky Online Land Records System

Jefferson County ky Sheriff property tax search

Single-family Kentucky HUD homes for sale

Fill out my form!

Advertisements

FHA extends “Anti-Flipping Waiver” to Help Stabilize the Kentucky Housing Market for FHA loans


 FHA extends “Anti-Flipping Waiver” to Help Stabilize the Kentucky Housing Market for FHA loans

FHA extends “Anti-Flipping Waiver” to Help Stabilize the Market

 

Effective currently until December 31, 2011, FHA loans in Kentucky will continue to allow the 90-day waiver for all properties acquired directly from a lender, but prohibitsKentucky FHA financing for properties owned less than 90 days if the sales price is greater than or equal to a 20% increase over the seller’s acquisition cost. The 90 days is calculated from the seller’s acquisition date to the purchase contract date of the new transaction.

 

If the resale occurs within 0 to 90 days, the following requirements must be met:

 

1. All transactions must be arms-length; no identity of interest between buyer, property seller or third parties. Specific ways to ensure an arms-length transaction include:

 

o

 

 

Property seller currently holds title to the property. LLCs, corporations or trusts serving as property sellers must meet all applicable state and federal law.

 

 

o

 

 

No pattern or previous flipping activity exists on the property (as evidenced by multiple title transfers within 12 months.

 

 

o

 

 

The property was marketed openly and fairly (Any sales contracts with “assignment of contract of sale” may be a red flag).

2. Transactions with sales price greater than or equal to a 20% increase over seller’s acquisition cost are not allowed.

 

FHA extends “Anti-Flipping Waiver” to Help Stabilize the Kentucky Housing Market for FHA loans