Washington Report

Advocacy Updates from Washington D.C.

FHA Temporary Waiver of Regulation on Property Flipping

On Nov. 29, 2012, FHA announced that it is extending the availability of the temporary waiver of its regulation 24 CFR 203.37a(b)(2) that prohibits the use of FHA financing to purchase single family properties that are being resold within 90 days of the previous acquisition.   This waiver, which was first issued in January 2010, has been extended for an additional two years to Dec. 31, 2014.  FHA hopes this waiver will encourage investors to renovate foreclosed and abandoned homes to increase the availability of affordable homes and stabilize communities that have seen high foreclosure activity.

Notice of Waiver Extension

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.

Advertisement