FHA Buy and Bail Exceptions HUD-4155.1 REV-5, paragraph 1-2 Principal Residences Question 50: If my principal residence is currently covered by an FHA-insured mortgage, can I purchase another principal residence with an FHA-insured mortgage? Answer: Only under the following situations described below: a) Relocation – Relocating to another area not within a reasonable […]
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FHA Buy And Bail Guideline Update: January 24, 2011. How lenders interpret FHA guidelines. On September 19, 2008, FHA issued MORTGAGEE LETTER 2008-25 which can be viewed here . It is also listed on this site here. The purpose of this letter was to address what is commonly referred to as a Buy and Bail […]
