Fliping
I work with both real estate and mortage, we have a deal going on where we are trying to purchase a house that was only bought a little over 6 months ago and according to the loan officer we can't get a loan against the property. The house was bought for 230000 and his being sold for 275000. The loan officer is saying we can only do a loan for the 230000 and then the seller would have to carrier a second. Is this correct? Is this a big red flag to the lenders becuase it was only purchased 6 months ago? I'm not understading what is going on. Could you please help me understand this "Fliping". The property is located in California 
That's bull, find a different lender. We flip houses in under 6 months 3 times this year already. A lot of lenders won't, but with 2 aqppraisals done, a lot will.
Good Luck,
[addsig]