FHA 90 Day Rule Lifted for 1 Year

A buyer could not obtain an FHA insured loan if the title had passed ownership in less than 90 days.  This was initially done to deter fix-n-flippers was benefiting from someone else's loss, according to my title guy.  Effective Feb. 1st this rule will be lifted in the hopes that the upcoming new wave of foreclosured homes can find new owners more rapidly.  This will allow many homebuyers who can only qualify for FHA financing, to have much more inventory from which to choose.  This will make investors very happy, too.