90 Day FHA Flip Rule Lifted!

If you haven’t heard, the 90 day flipping rule for FHA loans has been lifted.  This is amazing news to all real estate investors and positive news for the market overall.  In short, this overdue policy change will bring added liquidity to the market.  The change is set to take place on February 1, 2010.

In the past home owners that had not been on title to their property for at least 90 days or longer were precluded from selling to an FHA buyer.   Now please explain to me why the government would have put up an obstacle like this one for people that were rescuing distressed property from going into foreclosure and piling up on top of the hundreds of thousands of already existing REO properties?  It never made any sense.  Investors that purchase distressed property often fix them, which has the effect of raising property values.  They also lessen the work load for the banks that already can’t handle the amount of property they are having to take back as it is.

Fortunately, our esteemed government officials came to their senses and are now lifting the 90 day flip rule.  I suppose it is better late than never.  Don’t you agree?

Post a Comment

Blog Archives

Posts By Category

All Categories 3D Virtual Tour (2) Del Sur (6) For Sale (17) GRAND OPENING! (5) Home Buying (17) Home Selling Workshops (1) Infographics (36) Lifestyle (8) Luxury Homes (6) Main (105) Market Trends (11) Money and Mortgage (5) Negotiating (2) Neigborhoods (5) Real Estate Tips (7) Santaluz (7) Schools (3) Selling Your Home (23) Spotlight (5) Success Stories (16) Verrazzano (2) Video Blog (54)

Posts By Month

Grab Our RSS Feed
New Listing Alerts

Be one of the first to know when new listings matching your criteria hit the market.

Get New Listings
Free Market Analysis

Our free service provides you with a detailed estimate of your home's current market value.

Get a Free Market Analysis
Relocation Guide

Find your next home and learn about neighborhoods, current market statistics, and local schools.

Free Relocation Guide
Mortgage Info

In today's highly regulated market, it's more important than ever to work with a lender you can trust.

Get Mortgage Info