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Updated over 7 years ago on . Most recent reply

Quentin Forbes's profile image
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Quentin Forbes
  • from Suffolk, Virginia
  • Member since Jan 11, 2017
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Quentin Forbes's profile image
Quentin Forbes's profile image
Quentin Forbes
  • from Suffolk, Virginia
  • Member since Jan 11, 2017
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Quentin Forbes
  • Suffolk, VA
5
Votes |
28
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Foreclosures

Wrapping FHA Loans allowed or not allowed

Quentin Forbes
  • Suffolk, VA
Posted
Hello Bp, Question, are title agents allowed to wrap FHA loans? I came across a property that is in pre foreclosure status and seller is looking to sell. I want to wholesale it but not sure if a title agent can wrap a FHA loan for term of 5 years. I really appreciate any feedback! Thanks
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Wayne Brooks's profile image
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Wayne Brooks
  • #1 Foreclosures Contributor
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  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks's profile image
Wayne Brooks's profile image
Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

No FHA or conventional loan is allowed to be "wrapped" by the terms of the loan-due on sale clause
. Is it done every day? Sure, with risks.

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