This waived the 90 waiting period before a property could be resold. At this time there is no indication that the waiver will be extended.
Please make home buyers and more importantly, Real Estate Investor’s aware that 90 days must pass from acquisition of a property to the resale for 2015.
Original waiver dated 11-29-12 can be reviewed here… http://www.gpo.gov/fdsys/pkg/FR-2012-11-29/pdf/2012-28918.pdf .
Through the regulatory waiver, FHA encouraged investors that specialize in
acquiring and renovating properties to renovate foreclosed and abandoned
homes, with the objective of increasing the availability of affordable homes for
first-time and other purchasers, helping to stabilize real estate prices as well as
neighborhoods and communities where foreclosure activity has been high. The
waiver is applicable to all single family properties being resold within the 90-
day period after prior acquisition, and is not limited to foreclosed properties.
|Call us 1st to avoid mortgage problems, Call us 2nd to SOLVE them.
J. Scott Harris
Gold Financial Services, Inc. is a division of Amcap Mortgage, Ltd. NMLS# 129122