FHA 90 Day No-Flip Rule Relaxation

On January 15, 2010, the Department of Housing and Urban Development relaxed the 90 Day No-Flip rule to allow an investor who buys a property to sell it within 90 days of acquisition to a borrower applying for FHA insured loan.

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[airforcefalcon]

My first offer as an investor was approved today for a HUD home and now my realtor tells me that the 90 day hold is still active and she has never in 7 months seen an underwriter waive it. I bought this property for $80k and am looking to make $20k hopefully but I can't wait 3 months! Should I ask the title company? I'm fresh at this

[clonglongc]

@airforcefalcon your Realtor is wrong; the rule is suspended

[airforcefalcon]

thanks for your reply! My realtor keeps on insisting that it is up to the underwriter and that not once has waived this law. She says that the only way to flip fast is to either get a cash buyer "highly unlikely" or get a conventional buyer "not many of those". I plan on contacting the title company to see what they tell me because the point of this is to close, fix and flip. So frustrated