Beginning Feb 1st, 2010, for a period of one year, the FHA is waiving the 90 day Flip Rule that they had previously instituted. Kudos to this decision. Let's get back to improving the quality of homes, and putting people back to work in an effort to improve them. While we're at it we will improve the inventory and economy, and provide folks with a reason to buy homes once again. In doing so we will be re-energizing neighborhoods and placing desirable inventory back on the shelves as opposed to deserted and neglected homes that no one wants to invest in, pulling neighboring property values down. Funny how that works.
For specific details visit the HUD Site
Let's get this economy rolling again. Hopefully bad lenders have gone by the wayside by now (survival of the fittest) and this waiver can become permanent at the end of it's lifespan.
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