FHA Decides to Extend Suspension of Anti-Flipping Rules
On Tuesday, the powers that be at the FHA have decided to extend their temporary suspension of anti-flipping rules that was set to expire this month. The extension will be for another 12 months.
What this means for you, the real estate investor, is that you can still buy, fix and re-sell a property in less than 90 days and your buyer will be able to use FHA loan products to complete the transaction. There are still guidelines that FHA says must be met, but that is much better than the alternative.
To watch a video regarding this announcement please visit TBWSDaily.com
Great! They have no moral right to prevent or regulate how long a property is owned or bought and sold. They should not regulate flipping.
Definitely great news for the suffering real estate markets. We need to let profit-seeking investors, don’t we, to come out of this mess.
II’m upset because I wanted 2 buy a prperty Tuesday in Hope Mills and before the broker could enter my info it was pulled off the market. To a flipper I bet.
I had been looking for a prperty like this 4 5 yrs and I bet it want ever happen again.
I found the prperty on fri and set up an appt on sat , prequalified by Tuesday along with my Uncle and it had been already pulled late that day when bidding was till midnight, I don’t know after this experience if I will ever take a chance again since the asset manager can pull it and u never know why. We both were terribly disappointed when are hopes were so high.