FHA lifts 90-day waiting period

Anti-property-flipping measure waived for one year

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Starting Feb. 1, housing regulators will suspend for one year a 90-day waiting period on property resales that it says has put FHA borrowers at a disadvantage in bidding on foreclosed properties.

The waiting period on FHA financing of resales was implemented in 2003 to protect the Federal Housing Administration’s mortgage insurance program from the impacts of home flipping.