In accordance with HUD National Homeownership Center Reference Guide dated 12/22/2011…

In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, the FHA will extend FHA’s temporary waiver of the anti-flipping regulations.

With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than 90 days. In 2010, FHA temporarily waived this regulation through January 31, 2011, and later extended that waiver through the remainder of 2011. The new extension will permit buyers to continue to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. It will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.

The extension is effective through December 31, 2012, unless otherwise extended or withdrawn by FHA. All other terms of the existing Waiver will remain the same.

Contact me for details…Rhona Jukes This e-mail address is being protected from spambots. You need JavaScript enabled to view it 661 505-4335

Authors: Rhona Jukes

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