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On December 28, 2011 the FHA extended its waiver of a rule that prohibits the agency from insuring homes sold within 90 days of their acquisition. The anti-flipping regulation wasdesigned to prevent activity that could be harmful to neighborhoods.While the law was created to maintain stability in the housing market, the FHA temporarilywaived it back in 2010, saying a reprieve would allow buyers to acquire HUD-owned properties,bank-owned properties and private homes for the purpose of improving them and selling them torevitalize the neighborhoods.
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