Will getting deed via sub2 bypass FHA regulations? - Posted by Craig

Real Estate Investing Real Estate Financing
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Posted by js-Indianapolis on September 04, 2003 at 13:58:16:

http://www.creonline.com/wwwboard/messages/86494.html

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Will getting deed via sub2 bypass FHA regulations? - Posted by Craig

Posted by Craig on September 04, 2003 at 12:07:20:

Hi,

All this talk about the recent regulations that require the seller own the property at least 90 days before transferring title to an FHA buyer has me thinking. If I get the deed through a sub2 transaction and have the seller assign the beneficial interest to me in a land trust, could I get away with doing an FHA closing? Assuming I close the sub2 deal at least 90 days prior to the date my FHA buyer closes.

Thanks in advance.

Craig