FHA and Fannie: Pushing Foreclosure Sales w/ Tony Alvarez comment

FHA has lifted the 90 day rule for reselling properties. Anyone who wished to sell their property using FHA financing has had to wait at least 90 after buying. This was directly aimed at investors who wanted to "fix & flip" properties. So even if an investor completely renovated a property in three weeks, they could not sell the property using the easy to obtain and qualify for FHA loans, And the beautifully rehabbed properties were subject to theft and vandalism and loss for the investors.

Fannie Mae is now offering assistance for buyers of its foreclosed properties.

Here's the link to the article:  http://www.cnbc.com/id/35184396

Here's Tony Alvarez's response to the article:

"THE PARTIE'S JUST BEGINNING!

As I have mentioned many times over the past 12 months as we approach this years election, the Government will move quickly to remove some, if not most, of their restrictive policies that they themselves have created within the past year. This is all politically motivated and not at all in the spirit of solving any problems for anyone.

They are basically hoping to look good and keep the wheels greased so something positive starts happening and we take our eye off the election ball.

Stay alert to these new opportunities and above all make your vote count this year as never before. It is our deepest commitment to remove the absolute power presently corrupting our nation's politicians. We need balance. We need to hold them to a higher standard and only when we can make them remember that they are ALL expendable, if they forget they represent our collective best interest, can we hope of standing a chance of unraveling this financial mess with our heads intact."

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