The FHA announced that beginning February 1st, they will relax the anti-flipping rule. This is good news for investors who purchase distressed properties, fix them up and sell the property as renovated. With the 90 day rule waived, this will allow investors who purchase properties to flip to selling properties to buyer who are looking to purchase a home that's been renovated. This change is good for neighborhoods, home buyers and investors.
http://www.realtor.org/RMODaily.nsf/pages/News2010020102?OpenDocument
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