predatory loan: The FHA Anti-Flipping Rule and What it Means for Flippers and Buyers
- 06/04/19 07:57 AM
If you are buying, fixing, and flipping single-family houses – particularly starter homes – then you need to know about the Prohibition of Property Flipping Rule created by the Department of Housing and Urban Development (HUD) to prevent egregious predatory flips within the Federal Housing Administration (FHA) mortgage insurance programs. I will first explain the rule, then the exceptions to the rule, and finally the strategy flippers and homebuyers can take. The FHA anti-flipping rule was instituted on June 2, 2003 and includes the following stipulations when the buyer is obtaining an FHA loan: Only owners of record can sell properties. This … (1 comments)
If you are buying, fixing, and flipping single-family houses – particularly starter homes – then you need to know about the Prohibition of Property Flipping Rule created by the Department of Housing and Urban Development (HUD) to prevent egregious predatory flips within the Federal Housing Administration (FHA) mortgage insurance programs. I will first explain the rule, then the exceptions to the rule, and finally the strategy flippers and homebuyers can take.
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