RealEstate Investing :90 Day Flip FHA Rule Changed Feb. 1 2010

Article Summary:

Article Content:
Starting February 1, 2010, FHA will be lifting their 90 day ruling on the purchase of a  flipped house.   If a home buyer was trying to purchase a home that had been flipped, the buyer was not able to get an FHA loan unless and until they waited for a period of at least 90 days from the time the investor purchased the house.

Now, You CAN’T Buy That House may just NOT apply at least for 1 year!

HUD has agreed to waive the 90 day flip rule temporarily for one year.

There are a few conditions, though:

Interpretive policies of lenders  are yet to be implemented so I’m sure there will be more as time develops and lenders determine if they want to accept HUDs new ruing.

Some agents think this only applies to FHA loans  but it also applied to many conventional loans,  as well.

Click to read the original HUD Ruling on Buying Flipped Property.

 

Related Articles:

Sacramento Will Become Real Estate Flippers

If You Are A Home buyer, Do You Know the 90 Day Rule?

No, You Can’t Buy That House!

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