FHA is about to revert back to a minimum 90 day wait to finance a “flipped” house with an FHA loan.
FHA had waived this rule during the housing crisis in an attempt to boost home sales. For a while now there has been no minimum waiting period for an investor to purchase a home, fix it up, and then sell it to a home buyer at a higher price (on an FHA loan).
This 90 day waiting period will be re-instituted starting December 31, 2014.
Just wanted you to know!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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