FHA Anti-Flipping Waiver Expanded

January 28, 2010

HUD is temporarily expanding its property flipping waiver to include investors and entities that purchase foreclosures either singly or in bulk for resale. Under the waiver, homes that were foreclosed on and are being sold by the mortgagee or on its behalf may be purchased by FHA borrowers without regard to the 90-day seasoning period. NAR worked with the CALIFORNIA ASSOCIATION OF REALTORS® and FHA to expand the waiver. For more info contact Jerome Nagy,
jnagy@realtors.org, or 202/383-1233.

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