FHA Revises ‘Anti-Flipping’ Rule | Valerie Fitzgerald | Beverly Hills & West L.A. Real Estate | Westside Los Angeles & Beverly Hills Real Estate Blog

FHA Revises ‘Anti-Flipping’ Rule | Valerie Fitzgerald | Beverly Hills & West L.A. Real Estate

February 5th, 2010 Categories: Real Estate Tools

January 31, 2010|By Kenneth R. Harney

Reporting from Washington — 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-owned and foreclosed homes — all with one potentially far-reaching policy change.

The Federal Housing Administration is revising its long-standing “anti-flipping” rule starting Monday and just might score a hit with all three target groups.

This entry was posted on Friday, February 5th, 2010 at 7:02 am and is filed under Real Estate Tools. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Comment »

jp moses said:

There are some caveats to this for investors, not the least of which is the “20% rule”.

Also, folks should realize this isn’t a revision. It’s a 1 year waiver of the 90 day no-flip rule. On Feb 2, 2011 it’ll all go back to the way it was…in spite of the fact that the FHA ITSELF acknowledges the seasoning rule is a hamper to healthy community redevelopment.

I put together a concise executive summary of the FHA waiver on my blog if you’re interested.

…jp

# 5 February 2010 at 9:51 am