readytopurchase_IHB
New member
So I'm just learning about this buy and bail occurrence, with people purchasing a new home (at a lower price than their peak purchase), then walking away from what should've been a rental. FHA is requiring 25% equity in a rental to obtain a new home loan and conventional is at 30%. What the heck? Won't this limit more buyers from the pool? I read that there used to be a 6 months reserve requirement for the mortgage/taxes on BOTH properties - is this gone?