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Old 08-12-2010, 05:50 PM
varnie varnie is offline
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Default 6 month flipping law?
I'm new to this post today so please excuse any duplicate questions. I have just purchased my 2nd home to flip and heard I must keep the home for 6 months because of a new law? Can anyone help me with this? Thanks.
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Old 08-12-2010, 06:35 PM
Lady Flipper Lady Flipper is offline
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Default Re: 6 month flipping law?
I heard it came from the banks? Maybe a law making them do this. Something about the banks considering houses that are turned over quickly "unseasoned" and a higher risk, so they don't like to give mortgages for them.

I heard it is possible to give the bank a breakdown of all you invested in the property and if they consider it substantial enough they may approve the mortgage for your buyer...
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