Today 12/23/11, FHA declared that the 90 Day Flip rule be waived and extended up to 12/31/2012, unless withdrawn or extended by FHA in Arizona and California.
As you can already know many Arizona and California investors, agents and buyers are glad to know that the less than 90 Day FHA Flip Rule has been extended. I hope that FHA comes to their senses and gets rid of the less than 90 Day FHA Flip Rule in Arizona and California, all together. The less than 90 Day FHA Flip Rule was originally enacted to prevent the predatory practice of property flipping in Arizona and California; this means properties that are quickly resold at inflated prices to unknowing Arizona and California borrowers and where the property does not meet FHA's standards that protects Arizona and California home buyers from possibly costly repairs and/ or the property is deemed inhabitable; but with FHA's less than 90 Day FHA Flip Rule waiver, FHA have enough safe guards in place that this would prove to be very difficult to do.
To learn more about FHA Less than 90 Day Flip Rule Waiver in Arizona and California
Call me TODAY For more information @ 480.650.8602
Academy Mortgage is now providing a tool to assist borrowers’ that own and/or want to finance 5-10 properties that are looking to add to their investment portfolio or a 2nd home purchase when they have exceeded our standard policy of a maximum of 4 financed properties. This change should have an immediate positive sales opportunity for your realtor relationships that cater to these more experienced borrowers.
The parameters for these loans are as follows: click here for information on how to finance more than 10 properties in Arizona and California
Can I buy a home after a short sale in Arizona or California ?
The answer is yes.
What do you do if had to short sale in your home in Arizona or California? Often times, most lenders won't even bother listening and shut the door right in your face. It almost feels like there isn't any hope. The great news is that at Academy Mortgage in Arizona and California, we do care and we do understand that many families are deserving of that second chance. YOUR EYES ARE NOT DECEIVING YOU!
I did just say that we can finance you after a short sale with a USDA Home Loan. How you ask? See the USDA Short Sale Matrix below for more information on how you can buy a home after a short sale in Arizona or buy a home after a short sale in California:
Short Sale with Late Payments:
Short Sale with No Late Payments:
Not only can we close most loans in ten days* but we can also finance families that are willing to purchase a home in an Arizona USDA designated area or California USDA designated area after a short sale.
For more information on how to buy a home after a short sale, contact Ted Canto or call me directly at 480.650.8602.
FHA Extends The Less Than 90 Day Flip Rule for 2011 in Arizona
FHA 90 Day Flip Rule Is Extend For the Year 2011 in Arizona
HUD has informed us that they are going to extend the FHA 90 day seasoning financing rule for buyers & sellers in the greater Phoenix & Arizona area. This obviously will be extended to all states in the U.S.
What does this mean for you as a buyer?
The extended FHA 90 Day Flip Rule will allow you to purchase a home that was currently purchased, in the most recent 90 days, by an investor and sold for a profit. Read more about FHA Less Than 90 Day Rule for borrowers.
What does this mean for an investor/ seller of a property that is seasoned for less than 90 days?
To learn more on what the FHA 90 Day Rule for sellers/ investors, click here for more information.
Over the past 2-3 months, Congress has taken action and passed H.R. 5981. This bill gives FHA the authority to adjust it’s annual mortgage insurance premium yielding approximately $300 million per 
month to the FHA Mutual Mortgage Insurance Fund at a time when its reserves are perilously low. As a result, FHA has decided that effectively on October 4, 2010, the UFMIP (Upfront Mortgage Insurance Premium) and the Monthly Insurance Premium will change in order to meet the demands of future FHA Homeowners.
What does this mean for you and how does it affect your ability to qualify for an FHA Loan in Arizona?
A portion of your (UFMIP) Up-front Mortgage Insurance Premium is moving from being financed on top of the amount financed (your loan), into a higher amount of monthly mortgage insurance payments through the period of time you carry MI. For many future FHA Homebuyers, this is a very good thing since the total “LOAN TO VALUE” will be less than the outgoing formula. To simplify the equation, the following is an illustration of the current and new FHA Fees based on a 3.50% down payment:
Old FHA MI Fees (Void as of October 4, 2010)
Direct lender and licensed in Arizona
NMLS #: 228393 • AZ MB License: 0904081 • National NMLS #: 3113
Real Estate Information You Can Trust
Ted Canto, aka The Mobile Mortgage Pro
Sr. Mortgage Consultant
Direct: 480.650.8602
Visit www.tedcanto.com
Ted's Blog: www.thecantoteam.com
Home of the 10 Day Close! www.tendayclose.com
Company site: www.academymortgage.com/tedcanto
Academy Mortgage
5304 East Southern Ave #101
Mesa, AZ 85206
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Residential Loan Officer Academy Mortgage - Arizona The Ten Day Close Guarantee
First thank you for visiting our page and allowing our team to be of service to you and your family. I am a senior mortgage consultant who has over 12 13 years experience and has been a top mortgage consultant and leader in industry education for most of my career.
We believe that professionalism, knowledge, mobility and speed in meeting our clients' needs sets us apart from the competition. By incorporating today's technology; to be ready anywhere and anytime we are needed; ensures our clients' expectations are not only met but exceeded.
Our knowledge of the residential and commercial mortgage programs allows our team to select the very best mortgage solution for you. You will find The Canto Team's service highly personal and we'll uncomplicate the mortgage process for you. 
I am licensed and bonded in Arizona and am able to assist you on all types of financing. Academy Mortgage is known for the "Ten Day Close" which of course some will not believe us but we guarantee it with $100 per day** for everyday we do not have loan documents.
Why choose the Canto Team as your Mortgage Consultant?
We Partner In Your Success! These are the cornerstones of our team.
About Me
Born in New York City and raised in Boston, MA. I proudly served our country and is a veteran of the U.S. Army. After serving our country, I went on to obtain (2) two Bachelors Degree from Northeastern University/ Boston, MA. I have been married to my wife for 12 years and have 2 beautiful daughters and a recent addition to my family, a son.
I have held several executive marketing positions in the Gas & Oil, International Marketing and Direct Marketing industries before entering the Mortgage Industry. I am highly knowledgable of commercial and residential lending. I possess proficiency in Marketing, Internet Marketing and sales strategy and I also speaks Spanish fluently.
He has become a recognized leader in education and hosts seminars for his clients and the business communities in the Southwest. He will help guide you to the financing package that best meets your short and long term equity and investment goals.
Real Estate Information You Can Trust Ted Canto Sr. Mortgage Consultant Direct: 480.650.8602 Visit: www.tedcanto.com Ted's Blog: www.thecantoteam.com Home of the Ten Day Close! www.tendayclose.com Company site: www.academymortgage.com/tedcanto
Residential & Commercial/ SBA Lending Academy Mortgage 5304 East Southern Ave #101 • Mesa, AZ 85206 NMLS #: 228393 • AZ MB License: 0904081 • National NMLS #: 3113 We are national direct lenders with all of our staff in the same branch (processing, underwriting, doc department and funding). We are able to lend directly and broker loans as well, so will be able to find the right lender with the right product. Being a lender is extremely important in today's market because if your loan is brokered, the loan can take extra weeks and also the rates are not the best. There is no control over the loan process often leading to very disappointed clients and agents. This was not always the case but in today's market, it has changed drastically.
I am certified in FHA Loans, VA loans, USDA Rural Housing Program, First Time Home Buyer Programs, Commercial Lending, & Construction Loans.. Academy Mortgage 5304 East Southern Ave #101 • Mesa, AZ 85206 NMLS #: 228393 • AZ MB License: 0904081 • National NMLS #: 3113 We are national direct lenders with all of our staff in the same branch (processing, underwriting, doc department and funding). We are able to lend directly and broker loans as well, so will be able to find the right lender with the right product. Being a lender is extremely important in today's market because if your loan is brokered, the loan can take extra weeks and also the rates are not the best. There is no control over the loan process often leading to very disappointed clients and agents. This was not always the case but in today's market, it has changed drastically.
I am certified in FHA Loans, VA loans, USDA Rural Housing Program, First Time Home Buyer Programs, Commercial Lending, & Construction Loans.. 
My utmost gratitude goes out to Ted and Alejandra on The Canto Team. My Buyer chose to use a lender he had always used for his home purchases, GMAC. After 26 days of waiting for the approval and time being up for getting docs to title, GMAC went from you are approved to, well because of the declining market in Phoenix we need 20% down instead of 10%. They then said to switch from a conventional loan to FHA was going to take another 30 days. I suggested my Buyer give Ted and his team a try, because they were closing loans in 2 weeks, this was calender days not business days as most others will say. Ted and his team went above and beyond with docs ready for title in 8 days and that is with 2 of those 8 being a weekend. He did all this to make sure docs were ready to go to title for signing before a 3 day holiday weekend which gave us plenty of time to get the HUD approval from those oh so difficult Short Sale Creditor's. Thank you so Ted and Alejandra for your extraordinary performance! I haven't found anyone else that can get them done like you.
Erin DeLung
RE/MAX Achievers
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Just met with Ted Canto and his wife. Wow what a nice guy and so on the ball. I really want to thank you for introducing me to these kind of people. They make me feel good and look forward to working Real Estate again.
Keep up the good work.
Brenda Sanford
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As we have always said, we are so impressed by you as an exceptional Professional and a great person!
We share with everybody around our good experience with you, and always recommend you as the best one to work with. And we will keep doing it!
We are also glad you are staying in touch with us - thank you.
We would like to invite you and your family, and our "mortgage consultant" for a little party one of the following Saturdays - to kind of celebrate our first year in the house, and to say "Thank you" because you made this possible.
Thank you Ted, you have a great and succesfull week!
Tina and Emil
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