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

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