FHA revises ‘anti-flipping’ rule

FHA revises ‘anti-flipping’ rule
The agency once again will provide mortgage insurance for some buys where the seller closed on the property less than 90 days earlier. The objective is to speed up sales of renovated houses. Call it three birds with one stone: The federal government hopes simultaneously to help low-down-payment home buyers, investors who fix up foreclosures, and local communities burdened with too many bank …

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fha REVISES ANTI FLIPPING RULE,

Tags: 'antiflipping', federal government, FHA, foreclosures, home buyers, insurance, investors, los angeles times, mortgage insurance, objective, revises, rule, three birds,

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lenders allowing for C buyer financing, and revised title bulletins stating that the C purchase price does not need to be revealed to the A lender as long as certain disclosures are made. Last Friday the FHA has rescinded its 90 anti- flipping rule and will, for a period of 1 year, allow FHA buyers to obtain loans on properties that have been recently purchased by investors who intend to flip them for a profit. This ?green light? by FHA means that if you've been on ...

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