fha flip rule: FHA Extends 90-day Flip Rule for California Homes till December 31, 2012 - 12/22/11 10:12 AM
In an effort to continue stabilizing home values, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante has today extended FHA’s temporary waiver of the anti-flipping regulations through December 31, 2012 for California and rest of the country.
With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than 90 days.  In 2010, FHA temporarily waived this regulation through January 31, 2011, and later extended that waiver through the remainder of 2011.  The new extension will permit buyers to continue to use FHA loans to purchase HUD-owned properties, bank-owned properties, or properties resold … (5 comments)