HUD will no longer require a Seller to hold a property for a minimum of 90 days before re-selling using FHA financing.
Maryland Home Mortgage Loans: Effective February 1, 2010, HUD will no longer require a Seller to hold a property for a minimum of 90 days before re-selling using FHA financing.
Previously, this anti-flip rule was put in place to help stabilize large swings in property values. Investors were buying homes for cash, doing minimal repairs and re-selling for huge profits. HUD feels they can help fuel the economic recovery by not restricting the re-sale of fixer-uppers or financially distressed type properties.
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90 Day HUD Seasoning Issue Revoked!
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