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FHA EXTENDS 'ANTI-FLIPPING WAIVER' TO HELP STABLIZE HOUSING MARKET:
February 1st, 2011 7:01 PM

In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Federal Housing Administration (FHA) Commissioner David H. Stevens extended FHA's temporary waiver of the agency's 'anti-flipping rule.' The extension is intended to accelerate the resale of foreclosed upon homes in neighborhoods struggling to overcome possible property abandonment and blight.

This action will permit buyers to continue to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. It will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.


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Posted by Teresa Molina on February 1st, 2011 7:01 PMPost a Comment

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