FHA halts 90-day “flip rule” for one year09 Feb
Here is a good article about FHA relaxing their rules for investors that flip houses.
Real estate investor Mike Duever bought a two-bedroom ranch home in north Denver last fall. Last week, three and a half months after purchasing the property, he sold it to a young couple who are now happily settling in.
With that buy-sell schedule, Duever satisfied a minimum requirement long held by the Federal Housing Administration. Short-term investors had to hold a property at least 90 days before selling to an FHA-backed borrower.
That is, until recently. The FHA on Monday temporarily suspended its 90-day “flip rule.” The aim is to “facilitate the return of repaired and habitable properties to the market in a timely fashion,” according to an announcement by the U.S. Department of Housing and Urban Development.
