FHA is lifting 90 day ban on flipping property! Good news for FHA buyers.

FHA is lifting the 90 day flip rule.  Great news for investors and FHA buyers.  Currently if an investor buys a home 9man are bought for cash on the courthouse steps) , fixes is up and lists it for sale, an FHA buyer could not buy the home until the investor had owned the property for 90 days.  Silly rule.  Beginning in February 2010  FHA will temporarily lift the ban for a year.  This means FHA buyers can buy the flipped homes that many times are the cleanest homes available and not have to worry about obtaining traditional financing.

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