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On 1 January 2012 the federal government extended a waiver of the “Anti Flipping Regulation” which prohibits FHA insured mortgages for a single family property if the contract of sale is executed within 90 days of the acquisition of the property by the seller. The extension will be in effect until 31 Dec 2012. This regulation was originally implemented in an effort to protect homebuyers from investors reselling properties with an “artificially” inflated value. The regulation had the effect of increasing carrying costs to the investor which of course would eventually be passed on to the buyer which further contributed to the … (0 comments)
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