On Friday of last week, The U.S. Department of Housing and Urban Development has temporarily suspended a ban on using FHA loans to purchase homes that have been held for less than 90 days. This is big news for investors, who were often discouraged from bidding on property by the anti-flip rule, becasue a majority of their buyers would need FHA financing to qualify for the property purchase. I have attached the waiver below. Please take close notice of the caution concerning “assignment of contract” in section 1.d. And then read carefully all of section 2 regarding properties that are sold for 20% more than the investor’s purchase price.
Hope this helps!!!
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