Anti-Flipping Waiver Extended by FHA

The Anti- Flipping regulation originally activated by FHA in 2003 was designed to stop a spike in home flipping that was being blamed for driving up home prices. The regulation stopped all loans backed by FHA from being utilized to purchase homes that had only been owned by the current owner for less than 90 days.

Throughout the housing downturn FHA reconsidered the Anti- Flipping regulation do to vacant homes and foreclosures.  FHA has decided to extend the waiver on the Anti- Flipping regulation and allow FHA backed loans to be utilized in purchasing homes owned less than 90 days by current owners through 2012.

To read more about this topic please go to HUD.GOV

Source HUD.GOV

I am always available to answers your questions as to how this waiver can benefit you.