This just in: FHA announces they will waive the 90 day anti flip rule for short sale and reo back to back transactions!
Last week I wrote a blog about the legalities of these transactions, are back to backs legal, and informed you all of the legitimacy of them. FOr all you flippers and rehabbers out there the news could not be any better!
Finally, the powers that be are actually doing something to help us churn through all this distressed inventory. I predict many more lenders and organizations will fall in line like dominoes by the end of 2010.
Just make sure you follow the guidelines please as we don't need a few rotten apples to spoil the bunch.
BREAKING NEWS!! - FHA REMOVES 90 DAY ANTI FLIP RULE!! THIS IS VERY VERY GOOD NEWS -http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf
Happy Home Hunting!!
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