Health & Fitness
FHA says Flip Away
FHA has extended their "anti-flipping" rule until 2014 to enable people to pick up a reasonably priced home with little down.
Good news for investors, rehabbers and flippers....FHA has extended their "anti-flipping" rule until 2014. In an effort to curtail frauds and scams, FHA put a rule that no one could buy a home, do nothing to it and sell it within 3 months. Many homes remained vacant, run down and neighborhoods were feeling the effects, plus FHA was experiencing significant losses to their insurance fund.
Things are settling down in the industry and if done ethically and right, investors, first time buyers and low income qualifiers can pick up a home at an affordable price in todays market with as little as 3% down.
