FHA has waived the 90-day ownership requirement for the financing of quick-resale properties, like those bought at foreclosre, or what some may call "flips". This will help get more properties off the market, faster and at higher prices, stabilizing markets. The waiver is for one year beginning with contracts signed Feb. 1.
Memphis, TN
Broker / Industry Analyst
Good to see some restrictions are being relaxed to allow more opportunity to market property.
Jan 18, 2010 02:14 AM
Re/Max Westside Properties - Marina del Rey, CA
CRS
I have not heard this. Is it immediate or when does this change take place? Thanks for sharing!!
Jan 18, 2010 02:16 AM
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