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FHA Extends Suspension of Anti-Flipping Rule - Humpday Update

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Uploaded on Jan 25, 2011

In this episode, Matt and Woody talk about the recent announcement by FHA that they plan on extending the suspension to their anti-flipping rule. The rule, which was originally suspended in January of 2010, prevented homebuyers from using FHA financing if the seller owned the property for less than 90 days.

The suspension has increased investor purchases of REO properties over the past 12 months, and has not caused any significant increase in mortgage fraud or re-foreclosures. This news is important for rehabbers and short sale flippers, as it opens up an extremely large buyer pool for 1-4 unit homes, especially in the first time buyer price ranges.

The "Humpday Update" is a weekly real estate news report starring Woody Wolden and Matt Robinson, real estate trainers who tackle the important stories that affect you as a homeowner, investor or future investor.

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