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Home HUD Extends Anti-Flipping Rule through Dec...

HUD Extends Anti-Flipping Rule through December 31, 2012

Kudos to HUD for extending the Anti-Flip Rule to December 31, 2012.

As we know it is possible to acquire homes, complete the rehab and sell them prior to the 90 day wait period. Often these homes are in price range where FHA will be the best financing option for the new buyer. Without the extension, investors must wait 90 days to sell to a buyer using an FHA loan. This creates additional holding cost for the investor and can kill a potential sale. Fayetteville NC Home


This extension will also help communities experiencing high foreclosures. FHA loans are sometimes the only viable option for a buyer with little money for a down-payment. It is much better to have an investor restore the property and have that new homeowner living in the home rather than have an empty, possibly boarded-up home. Sometimes the foreclosures are on the market for a year or more. Flipping a home in a few months helps to keep the neighborhoods integrity, reduce crime or loitering and potentially increases the home values.
Fayetteville NC Home Buyer

Call me if you are interested in finding a home for a long term investment or to rehab and resale. Visit my website to view local homes for sale. BuyOrSellinFayetteville.com


Posted Monday Jan 02