Tag FHA Property Flipping waiver

Tag FHA Property Flipping waiver

FHA Property Flipping Waiver Expires December 31, 2014

John Thomas December 11, 2014 Tags: ,
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FHA Property Flipping Temporary Waiver on the 90 Day Rule will expire on December 31, 2014 and will not be extended as announced by the Federal Housing Authority on December 11, 2014.  This is important news for investors and home buyers to be aware of starting January 1, 2015 as investors will need to wait 91 days before they can executed a sales contract on a flip for a buyer using FHA financing to purchase the property.

If you have questions or would like to apply for a FHA Loan to purchase or refinance a home in Delaware, please call 302-703-0727 or you can APPLY ONLINE
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FHA Extends Property Flipping Waiver till December 31 2014

John Thomas December 12, 2012 Tags: , ,
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Update to Property Flipping Waiver – FHA Extends the Waiver till December 31, 2014

In 2006, HUD published a final rule in the Federal Register amending regulations at 24 CFR 203.37a, prohibiting property flipping in the HUD/FHA single-family mortgage insurance programs by providing additional exceptions to the time restrictions on sales.  The rule and Mortgagee Letter 06-14 became effective for mortgages endorsed for insurance on or after July 7, 2006.

For properties that do not meet the property flipping exception criteria, the property flipping waiver was recently extended through 12/31/14 Keep Reading...