The Federal Housing Administration (FHA) has extended the 90 day anti flipping waiver through 2014. This is good news for buyers who are using an FHA backed loan to purchase a property. FHA loans only required a 3.5% down payment. The extension of this waiver allows buyers to purchase a home that has been sold previously in the last 90 days.
If this waiver had not been extended, FHA buyers would not be able to buy a home that had been sold in the last 90 days. This would have seriously limited the number of properties they could purchase. FHA buyers are already limited by FHA standards as to the properties they can buy. You add the low inventory we have today and a FHA buyer would have had an even harder time finding a suitable property. I am so glad the waiver was extended.
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