Fewer Hoops For Buyers (And Investors!) To Jump Through

FHA Lifts 90-Day Waiting Period to Resell

HUD announced on Friday a temporary waiver to allow FHA financing for the purchase homes that have been owned by the seller for less than 90 days.

This will help home buyers to purchase homes that are owned by investors who often buy foreclosures, make repairs, and resell the properties. There are some restrictions:

1) The waiver begins February 1, and lasts for one year

2) Sales must be arm's-length transactions

3) Restrictions apply to sales that increase by 20% or more

More information check out HUDs latest press release!