FHA waives 90-day waiting period for resales 
Change intended to help lenders get REOs off the books
By Matt Carter, Friday, June 13, 2008.
In an attempt to help lenders speed the process of getting real estate-owned properties off their books, the Federal Housing Administration will temporarily lift a 90-day waiting period for property resales financed by FHA-guaranteed loans.
The 90-day waiting period -- instituted in 2003 to counter predatory lending and house flipping -- never applied to properties sold by Fannie Mae, Freddie Mac, or state- and federally chartered financial institutions.
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