A recent change by the Federal Housing Administration US Dept of Housing and Urban Development states that certain sellers are not required to sign the FHA Amendatory Clause.
The Amendatory clause is not required on:
HUD REO sales
Sales in which the seller is:
- Fannie Mae,
- Freddie Mac,
- The Department of Veterans Affairs (VA),
- Rural Housing Services, other Federal, state, and local government agencies, etc., and
- Those sales in which the borrower will not be an owner-occupant.
You may also find the entire guidebook (in Word format) at: http://www.fhaoutreach.gov/FHAHandbook/prod/collections/current/print/4155-2_6.pdf . The statement can be found on Page 16 (4155.2
Each month the Metropolitan Regional Information Systems, the local providers of the Multiple Listings for the Washington region, releases statistical reports for Realtors. And every month we pore over the reports, looking for positive information and encouragement that the market will finally show signs of a recovery. In order to be considered a trend I would suggest that one full quarter of sustained growth is required in order to assure some degree of confidence. While most people associate March Madness with the NCAA Basketball Tournament, I think the real estate market experienced its own March Madness as buyers resoundingly re-entered the marketplace. Each of the first 3 months of this