Here’s some really good news for anyone involved in acquiring, rehabilitating and reselling foreclosed houses: The Federal Housing Administration is temporarily waiving its “anti-flipping” rules and will now insure mortgages on properties that have been owned by the current seller for less than 90 days.
The policy change opens up a potent resource — the red-hot FHA fixed-rate mortgage program — to investors and property disposition companies looking to move houses quickly off their books at a profit…»read the rest of this story«
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