Published on October 22, 2020
Written by The Servion Group
Answer: Property flipping is the purchase and subsequent resale of a property in a short period of time. This practice can affect eligibility for an FHA-insured mortgage:
Answer: The year-to-date earnings need to be reviewed. Most likely, they will be reduced from previous years’ earnings. The year-to-date (for the entire year, not just the time frame the borrower has been working) earnings will need to be used for the calculation provided the income appears to be stable again.
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