FHA has extended its timeframe until 2011 concerning the ‘Anti-flip’ rule. The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales that were purchased within the past 90 days. This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities. FHA was considering prohibiting FHA backed loans on a home owned by the seller for less than 90 days. This is good news for investors and buyers.
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