CLOVIS, CA -- (Marketwire) -- 02/09/10 -- Last week HUD Secretary Shaun Donovan announced the FHA 90-day flip rule has been temporarily overturned to give FHA borrowers access to a larger selection of recently foreclosed properties and combat the effects of vacant and abandoned homes.

ZINC Financial, LLC, a leading rehab loan lender for investors in California, Arizona and Nevada, welcomes this change and is prepared to see the rehab financing market explode with the news that the ban on buying, rehabbing and selling within 90 days has been lifted.

"Previously, investors had to hold a property for a minimum of 90 days before another buyer could purchase the subject property with FHA financing, which significantly increased the likelihood that vandalism could occur on the property while sitting vacant over a 90-day period of time," said a ZINC Financial representative. "Lifting the 90-day flip rule allows investors to quickly turn properties without having to hold them for 90 days, thereby avoiding the risk of carrying costs, insurance, taxes, and potential property loss due to vandalism."

Both rehabbers and home buyers will benefit from the waiver, as "FHA-insured mortgage financing is often the only means of financing available to potential homebuyers," said Donovan in an announcement to the press. By permitting buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales, real estate prices will begin to stabilize and neighborhoods and communities will be revitalized.

The waiver went into effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner. ZINC Financial works with investors from California, Arizona and Nevada -- all areas with high concentrations of foreclosed homes for sale -- to find rehab loans in as little as seven days, with an easy submission process, fast underwriting and quick closings.

"With the lift on the 90-day flip rule, our quick closing times on rehab loans are essential now more than ever," said the ZINC Financial representative. "We are extremely proud of the work our rehabbers do (sometimes in as little as four weeks), and are so glad that they can now be rewarded for their quick, yet beautiful, work."

For additional information on ZINC investor rehab loans, please call toll free 866-949-2931 or visit www.ZincFinancial.net.

About ZINC Financial, LLC:

ZINC Financial, LLC is a leading investment rehab lender, helping investors leverage their capital to acquire and rehab properties for investment purposes. ZINC understands that investors can't wait for conventional financing and must close deals quickly; they are a direct lender, so decisions are made fast, providing for expedited property turn a rounds and faster profits for investors.

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