hud: FHA Extends Waiver of Anti-Flipping Regulations Through 2012
- 01/10/12 09:59 AM
Acting Federal Housing Administration Commissioner Carol J. Galente has extended a temporary waiver of FHA's anti-flipping regulations through 2012 in hopes to assist the rehabilitation of the current housing market. This waiver bypasses the FHA rule that prohibits insuring a mortgage on homes owned by a seller for less than 90 days. The original waiver was placed into action in 2010 through January 31st, 2011. The extension was announced to be effective through December 31, 2012 and all other terms of the waiver will remain the same. As Galente states, "This extension is intended to accelerate the resale of foreclosed … (0 comments)
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