Use A NC FHA Loan To Buy A Foreclosed Home
Have you been looking for a Bank Owned or FHA Foreclosed home in North Carolina? Did you know you can use a North Carolina FHA Loan to do that! You must have noticed a growing trend in the massive amounts of foreclosures that are on the market – in North Carolina more are coming on the market everyday… However, the trend is reversing here as the market improves. Many North Carolina First Time Home Buyers are looking at Foreclosures as the best deal to purchase!
Realtytrac.com reports that 1 out of every 362 homes in North Carolina is in foreclosure. For home buyers this sounds like it would be a perfect opportunity to pick up a foreclosure property for cheap.
NC First Time Home Buyers looking at getting an North Carolina FHA Loan have hit with the ole “FHA Flipping” rule. The FHA Flipping rule prevented home buyers from obtaining FHA Loan Financing if the person SELLING the property did not own it for more than 90 days. [Read more...]