Homes condos Montgomery Md Rockville Gaithersburg Germantown, Short sale foreclosure expert: Big News...FHA Waives Anti-Flipping Rule Through Year-End to Speed REO Sales

Big News...FHA Waives Anti-Flipping Rule Through Year-End to Speed REO Sales

FHA Waives Anti-Flipping Rule Until End 2012

FHA Waives Anti-Flipping Rule Through Year-End to Speed REO Sales

By Carrie Bay 01/03/2012

The Federal Housing Administration (FHA) is extending the temporary waiver of its property anti-flipping rule through the end of 2012.  FHA rules typically prohibit insuring a mortgage on a home owned by the seller for less than 90 days. In 2010, however, the agency waived this regulation, and later extended the waiver through 2011.  The new extension announced late last week will permit buyers to continue to use FHA-insured financing to purchase HUD-owned and bank-owned properties, no matter how long the homeowner has held the title, through December 31, 2012.  FHA says the waiver will allow homes to resell as quickly as possible, helping to stabilize real estate prices and revitalize communities experiencing high foreclosure activity.  Read More >


Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert 

Assoc. Broker/Owner "The Congressional Team" RE/MAX

Licensed in MD & Wash DC

8937 Shady Grove Court
Gaithersburg, MD 20877
Cell: 301-742-1172
Office: 240-403-0399 X306

http://www.premiermarylandhomes.com/


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Comment balloon 0 commentsRick Reed • January 07 2012 04:31PM

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